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.

EQIX has been the topic of a number of research reports. Citigroup lifted their price target on shares of Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Morgan Stanley lifted their price target on shares of Equinix from $424.00 to $435.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Oppenheimer lifted their price target on shares of Equinix to $525.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $547.00 price target on the stock in a report on Monday, November 6th. Finally, Jefferies Group reissued a “hold” rating and issued a $440.00 price objective on shares of Equinix in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $502.95.

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.

ILLEGAL ACTIVITY WARNING: This report was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The original version of this report can be read at https://www.americanbankingnews.com/2018/01/15/1-19-billion-in-sales-expected-for-equinix-inc-eqix-this-quarter.html.

About Equinix

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.

Get a free copy of the Zacks research report on Equinix (EQIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.