Equinix, Inc. (NASDAQ:EQIX) Announces Quarterly Dividend of $4.26

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 4.26 per share by the financial services provider on Wednesday, December 11th. This represents a $17.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 13th.

Equinix has raised its dividend payment by an average of 10.8% annually over the last three years. Equinix has a payout ratio of 136.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Equinix to earn $33.44 per share next year, which means the company should continue to be able to cover its $17.04 annual dividend with an expected future payout ratio of 51.0%.

Equinix Stock Performance

Shares of Equinix stock traded down $2.14 on Thursday, reaching $908.08. 850,695 shares of the stock were exchanged, compared to its average volume of 530,166. The business has a 50 day moving average price of $866.57 and a two-hundred day moving average price of $804.08. The firm has a market capitalization of $86.22 billion, a price-to-earnings ratio of 81.88, a PEG ratio of 2.11 and a beta of 0.71. Equinix has a twelve month low of $684.14 and a twelve month high of $943.02. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.04 earnings per share. Analysts anticipate that Equinix will post 31.01 earnings per share for the current fiscal year.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock valued at $9,071,764 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQIX. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Mizuho boosted their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $944.63.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.