Zacks: Brokerages Anticipate Equinix, Inc. (EQIX) Will Post Earnings of $4.69 Per Share
Wall Street analysts expect Equinix, Inc. (NASDAQ:EQIX) to post earnings of $4.69 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Equinix’s earnings, with estimates ranging from $4.46 to $4.92. Equinix posted earnings per share of $0.68 in the same quarter last year, which suggests a positive year-over-year growth rate of 589.7%. The firm is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Equinix will report full year earnings of $18.21 per share for the current year, with EPS estimates ranging from $17.88 to $18.78. For the next financial year, analysts expect that the firm will report earnings of $20.87 per share, with EPS estimates ranging from $17.98 to $22.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Equinix.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $1.18. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%.
Several analysts have commented on EQIX shares. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $472.00 price objective (up from $440.00) on shares of Equinix in a research note on Thursday, May 4th. Royal Bank Of Canada restated a “buy” rating and set a $470.00 price objective on shares of Equinix in a research note on Wednesday, May 31st. Jefferies Group LLC lifted their price objective on shares of Equinix from $378.00 to $410.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Cowen and Company lifted their price objective on shares of Equinix from $453.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Finally, Credit Suisse Group started coverage on shares of Equinix in a research note on Friday, June 30th. They set an “outperform” rating and a $510.00 price objective for the company. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $464.78.
Equinix (NASDAQ EQIX) opened at 450.00 on Friday. Equinix has a 52 week low of $314.55 and a 52 week high of $459.00.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, August 21st. Equinix’s payout ratio is presently 293.04%.
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In related news, CEO Stephen M. Smith sold 5,348 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $432.60, for a total value of $2,313,544.80. Following the completion of the sale, the chief executive officer now owns 18,967 shares of the company’s stock, valued at approximately $8,205,124.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Camp Peter Van sold 4,444 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following the completion of the sale, the director now directly owns 8,572 shares of the company’s stock, valued at approximately $3,821,483.32. The disclosure for this sale can be found here. In the last three months, insiders sold 22,143 shares of company stock valued at $9,703,456. 0.58% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake in Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock worth $105,000 after buying an additional 217 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its stake in Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock worth $101,000 after buying an additional 81 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Equinix during the first quarter worth about $112,000. San Francisco Sentry Investment Group CA acquired a new stake in Equinix during the second quarter worth about $127,000. Finally, Guardian Life Insurance Co. of America raised its stake in Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock worth $120,000 after buying an additional 27 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
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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