Equinix, Inc. (NASDAQ:EQIX) Receives Average Rating of “Buy” from Brokerages

Shares of Equinix, Inc. (NASDAQ:EQIX) have received an average rating of “Buy” from the twenty-one brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $989.35.

Several research firms have issued reports on EQIX. Wells Fargo & Company lowered their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th.

Equinix Stock Up 0.4 %

EQIX opened at $837.68 on Monday. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market cap of $81.53 billion, a PE ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a 50 day moving average of $912.40 and a 200 day moving average of $908.72.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, sell-side analysts expect that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.24%. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last 90 days. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Equinix in the fourth quarter worth about $30,290,000. Mattson Financial Services LLC grew its holdings in Equinix by 19.9% in the fourth quarter. Mattson Financial Services LLC now owns 1,882 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 312 shares during the period. Phocas Financial Corp. purchased a new stake in Equinix in the fourth quarter worth about $565,000. Comprehensive Money Management Services LLC purchased a new stake in Equinix in the fourth quarter worth about $233,000. Finally, Siemens Fonds Invest GmbH grew its holdings in Equinix by 3.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 3,318 shares of the financial services provider’s stock worth $3,105,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Equinix

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.