Analysts expect Equinix Inc (NASDAQ:EQIX) to announce $1.26 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Equinix’s earnings, with the highest sales estimate coming in at $1.26 billion and the lowest estimate coming in at $1.24 billion. Equinix reported sales of $1.07 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 17.8%. The company is scheduled to report its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Equinix will report full year sales of $5.10 billion for the current fiscal year, with estimates ranging from $5.04 billion to $5.12 billion. For the next financial year, analysts anticipate that the firm will report sales of $5.65 billion per share, with estimates ranging from $5.50 billion to $5.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Equinix.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, May 2nd. The financial services provider reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($2.91). The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Equinix had a net margin of 5.48% and a return on equity of 7.00%. Equinix’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.14 EPS.
In related news, insider Yau Tat Lee sold 5,960 shares of Equinix stock in a transaction on Friday, May 11th. The stock was sold at an average price of $402.69, for a total value of $2,400,032.40. Following the transaction, the insider now owns 6,718 shares in the company, valued at $2,705,271.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles J. Meyers sold 400 shares of Equinix stock in a transaction on Monday, April 16th. The shares were sold at an average price of $404.96, for a total value of $161,984.00. Following the completion of the transaction, the insider now owns 4,916 shares in the company, valued at approximately $1,990,783.36. The disclosure for this sale can be found here. Insiders have sold 19,773 shares of company stock worth $7,950,326 in the last 90 days. Insiders own 0.51% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. boosted its holdings in Equinix by 191.5% in the fourth quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 157 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Equinix in the fourth quarter valued at $121,000. Truewealth LLC acquired a new position in Equinix in the fourth quarter valued at $137,000. We Are One Seven LLC boosted its holdings in Equinix by 143.9% in the first quarter. We Are One Seven LLC now owns 361 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 213 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Equinix in the fourth quarter valued at $201,000. Hedge funds and other institutional investors own 99.60% of the company’s stock.
Shares of NASDAQ:EQIX opened at $396.85 on Friday. The firm has a market cap of $31.47 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.12 and a beta of 0.51. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.36 and a current ratio of 2.36. Equinix has a one year low of $370.79 and a one year high of $495.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 23rd will be issued a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, May 22nd. Equinix’s dividend payout ratio (DPR) is 49.22%.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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