Equinix, Inc. (NASDAQ:EQIX) Short Interest Down 9.9% in July

Equinix, Inc. (NASDAQ:EQIX) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,450,000 shares, a decline of 9.9% from the July 15th total of 1,610,000 shares. Based on an average trading volume of 529,000 shares, the short-interest ratio is presently 2.7 days.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently modified their holdings of the stock. Goelzer Investment Management Inc. increased its stake in shares of Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after acquiring an additional 13 shares during the last quarter. Cypress Capital Group boosted its holdings in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group boosted its holdings in Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares in the last quarter. Sage Mountain Advisors LLC boosted its holdings in Equinix by 3.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Equinix by 3.0% in the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 14 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EQIX shares. Royal Bank of Canada decreased their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Mizuho started coverage on Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective for the company. The Goldman Sachs Group started coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Barclays boosted their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $877.79.

Equinix Price Performance

Shares of NASDAQ EQIX traded down $1.42 during trading on Friday, hitting $828.66. The company had a trading volume of 371,708 shares, compared to its average volume of 564,801. The company has a market cap of $78.64 billion, a P/E ratio of 83.12, a PEG ratio of 2.80 and a beta of 0.68. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93. The business’s 50-day moving average is $781.52 and its 200 day moving average is $796.49. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 11.32% and a return on equity of 7.73%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.04 EPS. Equities research analysts predict that Equinix will post 31.23 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

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.