Equinix Inc (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Wednesday, February 26th will be paid a dividend of 2.66 per share by the financial services provider on Wednesday, March 18th. This represents a $10.64 annualized dividend and a dividend yield of 1.67%. This is an increase from Equinix’s previous quarterly dividend of $2.46.
Equinix has raised its dividend by an average of 7.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Equinix has a payout ratio of 125.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equinix to earn $22.57 per share next year, which means the company should continue to be able to cover its $9.84 annual dividend with an expected future payout ratio of 43.6%.
Shares of Equinix stock opened at $635.75 on Friday. The firm has a market capitalization of $49.49 billion, a P/E ratio of 107.75, a price-to-earnings-growth ratio of 2.03 and a beta of 0.64. The business’s fifty day simple moving average is $593.77 and its 200 day simple moving average is $565.00. 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 has a 12 month low of $399.57 and a 12 month high of $636.43.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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). Equinix had a net margin of 9.03% and a return on equity of 5.94%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts predict that Equinix will post 20.63 EPS for the current fiscal year.
In related news, insider Sara Baack sold 250 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $564.81, for a total transaction of $141,202.50. Following the completion of the sale, the insider now directly owns 7,922 shares in the company, valued at approximately $4,474,424.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 3,383 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $592.28, for a total value of $2,003,683.24. Following the sale, the chief financial officer now owns 28,430 shares of the company’s stock, valued at $16,838,520.40. The disclosure for this sale can be found here. Insiders sold a total of 17,159 shares of company stock valued at $10,149,833 over the last quarter. Company insiders own 0.49% of the company’s stock.
Several research firms recently commented on EQIX. SunTrust Banks boosted their target price on Equinix from $560.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer boosted their target price on Equinix from $550.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Citigroup boosted their target price on Equinix from $652.00 to $710.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Co boosted their target price on Equinix from $620.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Nomura boosted their target price on Equinix from $575.00 to $625.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and an average price target of $609.00.
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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