$1.19 Billion in Sales Expected for Equinix, Inc. (EQIX) This Quarter
Equities analysts expect Equinix, Inc. (NASDAQ:EQIX) to post sales of $1.19 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Equinix’s earnings. Equinix posted sales of $942.65 million during the same quarter last year, which suggests a positive year over year growth rate of 26.2%. The firm is expected to report its next earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that Equinix will report full-year sales of $1.19 billion for the current year, with estimates ranging from $4.31 billion to $4.36 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.02 billion per share, with estimates ranging from $4.85 billion to $5.12 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Equinix.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $2.24. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. Equinix’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.95 EPS.
Shares of Equinix (NASDAQ EQIX) opened at $435.95 on Monday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. The stock has a market cap of $34,106.11, a price-to-earnings ratio of 143.88, a price-to-earnings-growth ratio of 1.51 and a beta of 0.46. Equinix has a fifty-two week low of $361.90 and a fifty-two week high of $495.35.
In related news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $455.42, for a total transaction of $683,130.00. Following the completion of the transaction, the chief financial officer now directly owns 29,596 shares of the company’s stock, valued at approximately $13,478,610.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Earl Campbell sold 200 shares of Equinix stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $462.43, for a total transaction of $92,486.00. Following the transaction, the insider now directly owns 925 shares of the company’s stock, valued at $427,747.75. The disclosure for this sale can be found here. Insiders sold a total of 5,993 shares of company stock valued at $2,799,469 over the last three months. Corporate insiders own 0.58% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Equinix by 0.4% during the 2nd quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock worth $1,174,868,000 after purchasing an additional 10,307 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,898,601 shares of the financial services provider’s stock worth $847,345,000 after purchasing an additional 6,178 shares during the period. Edgewood Management LLC boosted its stake in shares of Equinix by 1.0% during the 3rd quarter. Edgewood Management LLC now owns 1,862,778 shares of the financial services provider’s stock worth $831,358,000 after purchasing an additional 18,248 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Equinix by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,493,095 shares of the financial services provider’s stock worth $666,367,000 after purchasing an additional 108,231 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Equinix by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,092,554 shares of the financial services provider’s stock valued at $487,600,000 after buying an additional 24,433 shares during the period. 94.16% of the stock is owned by hedge funds and other institutional investors.
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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