Equinix, Inc. (EQIX) to Issue Quarterly Dividend of $4.69 on March 19th

Equinix, Inc. (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Wednesday, February 26th will be given a dividend of 4.69 per share by the financial services provider on Wednesday, March 19th. This represents a $18.76 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26.

Equinix has increased its dividend by an average of 14.1% annually over the last three years. Equinix has a dividend payout ratio of 114.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equinix to earn $33.96 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 50.2%.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $923.00 on Friday. The business’s 50-day simple moving average is $936.92 and its 200-day simple moving average is $894.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The firm has a market cap of $89.06 billion, a price-to-earnings ratio of 83.23, a P/E/G ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. As a group, equities research analysts expect that Equinix will post 31.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the sale, the insider now owns 1,015 shares in the company, valued at $976,633. This represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock worth $15,530,564 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 have recently commented on EQIX. BMO Capital Markets dropped their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays lifted their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $994.82.

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.