Equinix (NASDAQ:EQIX) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Equinix (NASDAQ:EQIX) in a report issued on Thursday morning,Benzinga reports. They currently have a $1,200.00 target price on the financial services provider’s stock.

EQIX has been the subject of several other research reports. Royal Bank of Canada boosted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays boosted their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Trading Down 1.3 %

EQIX opened at $923.00 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s fifty day moving average is $936.92 and its two-hundred day moving average is $894.76. The company has a market capitalization of $89.06 billion, a P/E ratio of 83.23, a PEG ratio of 2.23 and a beta of 0.72. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Analysts forecast that Equinix will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.03%. Equinix’s dividend payout ratio is presently 199.30%.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the sale, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,801 shares of company stock valued at $15,530,564. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several large investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its holdings in shares of Equinix by 10.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 221,600 shares of the financial services provider’s stock worth $208,799,000 after purchasing an additional 20,293 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Equinix by 1.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 902,634 shares of the financial services provider’s stock worth $851,085,000 after purchasing an additional 11,557 shares during the period. Zacks Investment Management purchased a new position in shares of Equinix during the 4th quarter valued at about $262,000. NewEdge Advisors LLC lifted its holdings in shares of Equinix by 42.3% in the 4th quarter. NewEdge Advisors LLC now owns 1,975 shares of the financial services provider’s stock valued at $1,862,000 after buying an additional 587 shares during the period. Finally, NFJ Investment Group LLC lifted its holdings in shares of Equinix by 3.7% in the 4th quarter. NFJ Investment Group LLC now owns 27,066 shares of the financial services provider’s stock valued at $25,520,000 after buying an additional 970 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.