Equinix’s (EQIX) Hold Rating Reiterated at Cfra

Cfra restated their hold rating on shares of Equinix (NASDAQ:EQIX) in a research note issued to investors on Tuesday, Benzinga reports.

EQIX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price target on Equinix from $880.00 to $910.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the company an outperform rating in a research report on Thursday, September 12th. Barclays boosted their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a report on Thursday, May 30th. Truist Financial increased their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a buy rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada cut their target price on shares of Equinix from $950.00 to $922.00 and set an outperform rating for the company in a research note on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $891.57.

Equinix Trading Down 1.2 %

Shares of NASDAQ:EQIX opened at $878.98 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a 12-month low of $677.80 and a 12-month high of $914.93. The business has a 50 day moving average of $825.20 and a two-hundred day moving average of $792.12. The company has a market capitalization of $83.42 billion, a PE ratio of 88.16, a PEG ratio of 2.15 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts forecast that Equinix will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. Equinix’s payout ratio is 170.91%.

Insider Activity at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently made changes to their positions in the stock. Swedbank AB acquired a new position in Equinix during the first quarter worth $294,526,000. Principal Financial Group Inc. raised its holdings in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after buying an additional 238,883 shares during the period. Vanguard Group Inc. lifted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. M&G Plc acquired a new position in Equinix in the 1st quarter valued at about $187,089,000. Finally, Quadrature Capital Ltd purchased a new stake in Equinix during the first quarter worth about $145,308,000. Hedge funds and other institutional investors own 94.94% 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.