$1.26 Billion in Sales Expected for Equinix Inc (EQIX) This Quarter

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.

A number of equities research analysts have commented on EQIX shares. Credit Suisse Group lowered their target price on Equinix from $524.00 to $519.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Wells Fargo & Co lowered their target price on Equinix from $510.00 to $485.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Guggenheim set a $515.00 target price on Equinix and gave the company a “buy” rating in a report on Thursday, February 15th. Barclays reiterated a “buy” rating and set a $500.00 target price on shares of Equinix in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded Equinix from a “hold” rating to a “buy” rating and set a $456.00 target price on the stock in a report on Monday, February 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $505.23.

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%.

About Equinix

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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Earnings History and Estimates for Equinix (NASDAQ:EQIX)

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