Equinix (NASDAQ:EQIX) Releases Earnings Results, Misses Expectations By $0.10 EPS

Equinix (NASDAQ:EQIX) released its quarterly earnings results on Wednesday. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.10), Briefing.com reports. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. Equinix updated its Q1 2020
After-Hours guidance to EPS and its FY 2020
After-Hours guidance to 24.42-25.00 EPS.

EQIX stock traded up $14.90 on Friday, reaching $650.65. The company had a trading volume of 10,749 shares, compared to its average volume of 376,300. Equinix has a 1 year low of $399.57 and a 1 year high of $636.43. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.55 and a current ratio of 1.55. The company’s fifty day moving average is $593.77 and its 200 day moving average is $565.00. The company has a market cap of $49.49 billion, a P/E ratio of 110.65, a PEG ratio of 2.03 and a beta of 0.64.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $2.66 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $10.64 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Equinix’s previous quarterly dividend of $2.46. Equinix’s dividend payout ratio is presently 47.56%.

A number of equities research analysts recently weighed in on EQIX shares. Nomura upped their price target on Equinix from $575.00 to $625.00 and gave the stock a “buy” rating in a report on Friday, October 18th. FBN Securities upped their price target on Equinix from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. SunTrust Banks upped their price target on Equinix from $560.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus upped their target price on Equinix from $620.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Co upped their target price on Equinix from $620.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $609.00.

In other Equinix news, CFO Keith D. Taylor sold 3,383 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $592.28, for a total transaction of $2,003,683.24. Following the transaction, the chief financial officer now owns 28,430 shares of the company’s stock, valued at approximately $16,838,520.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles J. Meyers sold 5,562 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $592.53, for a total value of $3,295,651.86. Following the transaction, the chief executive officer now directly owns 8,567 shares in the company, valued at approximately $5,076,204.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,159 shares of company stock worth $10,149,833. 0.49% of the stock is owned by corporate insiders.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

Featured Story: What are gap-down stocks?

Earnings History for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.