Equinix Inc. (EQIX) Trading Down 2.7%
Shares of Equinix Inc. (NASDAQ:EQIX) traded down 2.7% on Tuesday . The stock traded as low as $349.60 and last traded at $356.74, with a volume of 874,096 shares trading hands. The stock had previously closed at $366.73.
Several analysts have recently weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, June 16th. Zacks Investment Research downgraded shares of Equinix from a “buy” rating to a “hold” rating in a report on Friday, August 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $428.00 target price on shares of Equinix in a report on Tuesday, August 9th. Jefferies Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Equinix in a report on Wednesday, July 6th. Finally, Barclays PLC lifted their target price on shares of Equinix from $340.00 to $360.00 in a report on Tuesday, June 21st. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $392.38.
The firm has a market capitalization of $25.23 billion, a P/E ratio of 350.45 and a beta of 0.80. The stock has a 50-day moving average price of $367.44 and a 200 day moving average price of $353.77.
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Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The firm earned $900.50 million during the quarter, compared to analyst estimates of $893.99 million. During the same period last year, the business earned $1.03 EPS. The firm’s revenue was up 35.3% on a year-over-year basis. On average, equities analysts expect that Equinix Inc. will post $14.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 dividend on an annualized basis and a yield of 1.97%. Equinix’s dividend payout ratio is presently 654.21%.
In related news, COO Charles J. Meyers sold 2,343 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $369.64, for a total value of $866,066.52. Following the completion of the transaction, the chief operating officer now owns 3,988 shares in the company, valued at approximately $1,474,124.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Baack sold 300 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $353.96, for a total transaction of $106,188.00. Following the completion of the transaction, the insider now owns 6,004 shares of the company’s stock, valued at approximately $2,125,175.84. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock worth $103,000 after buying an additional 2 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Equinix by 0.7% in the second quarter. Cleararc Capital Inc. now owns 1,703 shares of the company’s stock worth $660,000 after buying an additional 11 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Equinix by 0.4% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,362 shares of the company’s stock worth $1,304,000 after buying an additional 12 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Equinix by 5.6% in the second quarter. Integrated Investment Consultants LLC now owns 284 shares of the company’s stock worth $110,000 after buying an additional 15 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of Equinix by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,648 shares of the company’s stock worth $1,027,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.
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.
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