Equinix’s (EQIX) Positive Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets restated their positive rating on shares of Equinix (NASDAQ:EQIX) in a research report report published on Thursday, The Fly reports. They currently have a $665.00 target price on the financial services provider’s stock.

A number of other research firms have also issued reports on EQIX. SunTrust Banks lifted their target price on Equinix from $560.00 to $680.00 and gave the stock a buy rating in a report on Thursday. Oppenheimer lifted their target price on Equinix from $550.00 to $650.00 and gave the stock an outperform rating in a report on Thursday, October 31st. Stifel Nicolaus reissued a buy rating and issued a $620.00 price target on shares of Equinix in a research note on Thursday, November 14th. Morgan Stanley lifted their price target on Equinix from $520.00 to $532.00 and gave the stock an equal weight rating in a research note on Wednesday. Finally, FBN Securities lifted their price target on Equinix from $550.00 to $625.00 and gave the stock an outperform rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $613.55.

NASDAQ:EQIX traded up $12.90 during mid-day trading on Thursday, reaching $648.65. 438,565 shares of the stock were exchanged, compared to its average volume of 376,300. The business has a fifty day moving average price of $593.77 and a 200 day moving average price of $565.00. The firm has a market capitalization of $49.49 billion, a PE ratio of 109.94, a PEG ratio of 2.03 and a beta of 0.64. Equinix has a 1-year low of $399.57 and a 1-year high of $636.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.10). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. Equinix’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 earnings per share. On average, sell-side analysts forecast that Equinix will post 20.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a dividend of $2.66 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $2.46. This represents a $10.64 dividend on an annualized basis and a yield of 1.64%. Equinix’s dividend payout ratio (DPR) is presently 47.56%.

In other Equinix news, CEO Charles J. Meyers sold 5,562 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.53, for a total transaction of $3,295,651.86. Following the completion of the sale, the chief executive officer now directly owns 8,567 shares in the company, valued at approximately $5,076,204.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $557.29, for a total value of $111,458.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,159 shares of company stock valued at $10,149,833 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in EQIX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Equinix by 25.9% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 778 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 160 shares during the period. Executive Wealth Management LLC lifted its holdings in Equinix by 2.4% during the 3rd quarter. Executive Wealth Management LLC now owns 11,121 shares of the financial services provider’s stock worth $6,415,000 after buying an additional 258 shares during the period. Appleton Partners Inc. MA lifted its holdings in Equinix by 44.0% during the 3rd quarter. Appleton Partners Inc. MA now owns 1,358 shares of the financial services provider’s stock worth $783,000 after buying an additional 415 shares during the period. Three Peaks Capital Management LLC lifted its holdings in Equinix by 2.1% during the 4th quarter. Three Peaks Capital Management LLC now owns 6,891 shares of the financial services provider’s stock worth $4,022,000 after buying an additional 144 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Equinix by 43.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 428,318 shares of the financial services provider’s stock valued at $247,054,000 after purchasing an additional 130,121 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

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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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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