Equinix, Inc. (NASDAQ:EQIX) to Issue Dividend Increase – $4.69 Per Share

Equinix, Inc. (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Wednesday, February 26th will be paid a dividend of 4.69 per share by the financial services provider on Wednesday, March 19th. This represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26.

Equinix has raised its dividend payment by an average of 14.1% per year over the last three years. Equinix has a payout ratio of 126.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Equinix to earn $36.09 per share next year, which means the company should continue to be able to cover its $18.76 annual dividend with an expected future payout ratio of 52.0%.

Equinix Trading Down 2.2 %

Shares of NASDAQ EQIX opened at $919.68 on Monday. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a 50-day moving average of $931.27 and a two-hundred day moving average of $902.71. The company has a market cap of $89.51 billion, a PE ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EQIX shares. TD Cowen upped their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Scotiabank lowered their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Truist Financial raised their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $994.82.

Insider Activity

In other Equinix news, insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. This trade represents a 17.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,741 shares of company stock worth $21,988,532 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.