Equinix (EQIX) Releases Quarterly Earnings Results, Misses Expectations By $3.05 EPS

Equinix (NASDAQ:EQIX) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.87 by ($3.05), Briefing.com reports. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $4.08 earnings per share. Equinix’s revenue was up 27.3% on a year-over-year basis.

Equinix (EQIX) opened at $435.83 on Thursday. Equinix has a 1-year low of $361.90 and a 1-year high of $495.35. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $34,129.45, a PE ratio of 143.84, a price-to-earnings-growth ratio of 1.51 and a beta of 0.42.

Several analysts recently issued reports on EQIX shares. Credit Suisse Group set a $524.00 price objective on Equinix and gave the stock an “outperform” rating in a report on Wednesday, January 17th. Cowen reiterated a “buy” rating and set a $482.00 price objective on shares of Equinix in a report on Friday, November 10th. BidaskClub lowered Equinix from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Barclays upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $475.00 to $505.00 in a report on Wednesday, October 18th. Finally, UBS Group started coverage on Equinix in a report on Wednesday, October 18th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $504.05.

In other Equinix news, CEO Stephen M. Smith sold 10,706 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $443.10, for a total transaction of $4,743,828.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Keith D. Taylor sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $476.81, for a total value of $953,620.00. Following the transaction, the chief financial officer now owns 27,996 shares in the company, valued at $13,348,772.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,513 shares of company stock worth $10,961,480. Corporate insiders own 0.58% of the company’s stock.

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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.

Earnings History for Equinix (NASDAQ:EQIX)

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