Shares of Equinix Inc (NASDAQ:EQIX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $483.97 and last traded at $482.98, with a volume of 7490 shares traded. The stock had previously closed at $476.24.
Several analysts have issued reports on EQIX shares. Nomura raised their price objective on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Citigroup raised their price objective on shares of Equinix from $508.00 to $527.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Mitsubishi UFJ Financial Group raised their price objective on shares of Equinix from $460.00 to $484.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Zacks Investment Research downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Finally, BidaskClub raised shares of Equinix from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $501.44.
The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.25. The company has a market cap of $39.10 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.65 and a beta of 0.89.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.16 by ($3.72). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Equinix had a net margin of 8.06% and a return on equity of 5.66%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.21 earnings per share. As a group, equities analysts predict that Equinix Inc will post 20.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be issued a dividend of $2.46 per share. This represents a $9.84 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, May 21st. Equinix’s payout ratio is 47.56%.
In related news, CEO Charles J. Meyers sold 3,383 shares of Equinix stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $425.92, for a total transaction of $1,440,887.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karl Strohmeyer sold 1,135 shares of Equinix stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $426.96, for a total transaction of $484,599.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,143 shares of company stock worth $7,776,844. 0.49% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of EQIX. Washington Trust Bank purchased a new position in Equinix in the first quarter worth $29,000. Spectrum Management Group Inc. purchased a new position in Equinix in the first quarter worth $29,000. Farmers & Merchants Investments Inc. grew its holdings in Equinix by 174.2% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 54 shares during the last quarter. Pearl River Capital LLC purchased a new position in Equinix in the fourth quarter worth $35,000. Finally, Proficio Capital Partners LLC grew its holdings in Equinix by 116.7% in the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 63 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors.
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About Equinix (NASDAQ:EQIX)
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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