Credit Suisse Group set a $556.00 price target on Equinix (NASDAQ:EQIX) in a research report report published on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the financial services provider’s stock.
Other research analysts have also issued research reports about the stock. Wells Fargo & Co reaffirmed a hold rating on shares of Sprouts Farmers Market in a research note on Wednesday, March 27th. Argus reduced their target price on shares of AmerisourceBergen from $115.00 to $100.00 and set a buy rating on the stock in a research note on Monday, June 3rd. Deutsche Bank lowered shares of Mitsubishi Motors from a buy rating to a hold rating in a research note on Thursday, May 9th. Citigroup lowered shares of BCE from a buy rating to a neutral rating in a research note on Thursday, May 2nd. Finally, BidaskClub raised shares of Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Equinix presently has an average rating of Buy and an average price target of $509.67.
Shares of NASDAQ EQIX opened at $518.01 on Thursday. The company has a market cap of $41.89 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.80 and a beta of 0.73. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.25. Equinix has a 1 year low of $335.29 and a 1 year high of $528.98. The company has a 50-day simple moving average of $503.82.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.16 by ($3.72). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Equinix had a net margin of 8.06% and a return on equity of 5.66%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $5.21 EPS. As a group, equities research analysts expect that Equinix will post 20.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a dividend of $2.46 per share. This represents a $9.84 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s payout ratio is 47.56%.
In other Equinix news, insider Michael Earl Campbell sold 1,250 shares of Equinix stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $490.87, for a total value of $613,587.50. Following the transaction, the insider now owns 2,578 shares of the company’s stock, valued at $1,265,462.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles J. Meyers sold 282 shares of Equinix stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $462.31, for a total transaction of $130,371.42. Following the completion of the transaction, the chief executive officer now directly owns 5,882 shares in the company, valued at approximately $2,719,307.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,982 shares of company stock worth $1,444,590. Insiders own 0.49% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Carroll Financial Associates Inc. lifted its stake in Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after buying an additional 21 shares in the last quarter. Meridian Wealth Management LLC bought a new position in Equinix in the first quarter valued at approximately $28,000. Washington Trust Bank bought a new position in Equinix in the first quarter valued at approximately $29,000. Spectrum Management Group Inc. bought a new position in Equinix in the first quarter valued at approximately $29,000. Finally, Thomas J. Herzfeld Advisors Inc. lifted its stake in Equinix by 27.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock valued at $50,000 after buying an additional 24 shares in the last quarter. 99.64% of the stock is currently owned by hedge funds and other institutional investors.
Equinix Company Profile
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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