Equinix (NASDAQ:EQIX) Given New $888.00 Price Target at Barclays

Equinix (NASDAQ:EQIX) had its price target reduced by Barclays from $939.00 to $888.00 in a research note released on Friday, The Fly reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered Equinix from an outperform rating to a market perform rating and dropped their price objective for the stock from $875.00 to $865.00 in a research note on Friday, January 7th. Credit Suisse Group boosted their target price on shares of Equinix from $731.00 to $732.00 and gave the company a neutral rating in a research note on Thursday, November 4th. Jefferies Financial Group lowered shares of Equinix from a buy rating to a hold rating and lowered their target price for the company from $970.00 to $840.00 in a research note on Monday, January 10th. TheStreet lowered shares of Equinix from a b- rating to a c rating in a research note on Thursday, September 30th. Finally, Royal Bank of Canada cut their price objective on shares of Equinix from $885.00 to $850.00 and set an outperform rating on the stock in a report on Monday, November 15th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has a consensus rating of Buy and a consensus price target of $875.22.

NASDAQ EQIX opened at $746.76 on Friday. The company has a fifty day moving average price of $800.74 and a 200-day moving average price of $813.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.63 and a quick ratio of 1.63. Equinix has a 1 year low of $586.73 and a 1 year high of $885.26. The firm has a market cap of $67.24 billion, a price-to-earnings ratio of 157.21, a PEG ratio of 2.86 and a beta of 0.36.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, November 3rd. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.97 by ($4.29). Equinix had a net margin of 6.59% and a return on equity of 6.01%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company earned $6.48 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts anticipate that Equinix will post 24.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, November 17th were paid a $2.87 dividend. This represents a $11.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, November 16th. Equinix’s dividend payout ratio (DPR) is currently 241.68%.

In other Equinix news, insider Brandi Galvin Morandi sold 143 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $783.00, for a total transaction of $111,969.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $799.99, for a total value of $799,990.00. The disclosure for this sale can be found here. Insiders sold a total of 1,218 shares of company stock valued at $971,829 over the last quarter. 13.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. BlackRock Inc. increased its holdings in shares of Equinix by 9.1% in the second quarter. BlackRock Inc. now owns 7,983,827 shares of the financial services provider’s stock valued at $6,407,816,000 after purchasing an additional 665,274 shares during the period. State Street Corp increased its stake in Equinix by 15.9% during the second quarter. State Street Corp now owns 3,876,350 shares of the financial services provider’s stock valued at $3,111,159,000 after purchasing an additional 530,748 shares during the last quarter. Amundi acquired a new stake in shares of Equinix in the second quarter valued at approximately $359,060,000. Price T Rowe Associates Inc. MD grew its position in Equinix by 36.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,544,436 shares of the financial services provider’s stock worth $1,239,564,000 after buying an additional 413,263 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its holdings in Equinix by 34.3% during the second quarter. APG Asset Management US Inc. now owns 1,104,900 shares of the financial services provider’s stock valued at $881,312,000 after acquiring an additional 282,400 shares during the period. 93.64% of the stock is currently owned by institutional investors.

Equinix Company Profile

Equinix, Inc engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.

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