Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average rating of “Buy” by the twenty-one analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $456.17.
Several research firms recently issued reports on EQIX. Nomura assumed coverage on shares of Equinix in a research note on Thursday, May 25th. They issued a “buy” rating and a $490.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and set a $525.00 target price on shares of Equinix in a research report on Monday, June 12th. Citigroup Inc. boosted their target price on shares of Equinix from $435.00 to $462.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. FBN Securities upped their price objective on shares of Equinix from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd.
Equinix (NASDAQ EQIX) traded up 0.17% on Monday, hitting $424.01. The stock had a trading volume of 53,749 shares. Equinix has a one year low of $314.55 and a one year high of $447.26.
Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $4.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.20 by $0.94. The company had revenue of $949.53 million for the quarter, compared to analysts’ expectations of $946.89 million. Equinix had a return on equity of 5.88% and a net margin of 5.38%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. On average, equities research analysts predict that Equinix will post $4.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 24th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, May 22nd. Equinix’s payout ratio is currently 286.74%.
In other news, COO Charles J. Meyers sold 154 shares of Equinix stock in a transaction on Monday, May 8th. The stock was sold at an average price of $426.66, for a total value of $65,705.64. Following the completion of the sale, the chief operating officer now directly owns 183 shares of the company’s stock, valued at $78,078.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen M. Smith sold 5,349 shares of Equinix stock in a transaction on Monday, April 17th. The shares were sold at an average price of $401.37, for a total value of $2,146,928.13. Following the completion of the sale, the chief executive officer now directly owns 29,057 shares of the company’s stock, valued at $11,662,608.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,202 shares of company stock worth $9,901,690. 0.58% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Equinix by 22.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,650 shares of the financial services provider’s stock valued at $708,000 after buying an additional 300 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Equinix by 19.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 9,245 shares of the financial services provider’s stock valued at $3,701,000 after buying an additional 1,511 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Equinix by 64.8% in the first quarter. Nuveen Asset Management LLC now owns 672,053 shares of the financial services provider’s stock valued at $269,070,000 after buying an additional 264,226 shares during the last quarter. Cpcm LLC increased its stake in Equinix by 0.4% in the first quarter. Cpcm LLC now owns 1,255 shares of the financial services provider’s stock valued at $502,000 after buying an additional 5 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its stake in Equinix by 20.8% in the first quarter. Perigon Wealth Management LLC now owns 1,565 shares of the financial services provider’s stock valued at $627,000 after buying an additional 269 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was originally posted by WKRB News and is owned by of WKRB News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.wkrb13.com/markets/2285412/equinix-inc-nasdaqeqix-receives-average-recommendation-of-buy-from-brokerages.html.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285412/equinix-inc-nasdaqeqix-receives-average-recommendation-of-buy-from-brokerages.html
Receive News & Ratings for Equinix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.