Cfra Reiterates “Hold” Rating for Equinix (NASDAQ:EQIX)

Cfra reaffirmed their hold rating on shares of Equinix (NASDAQ:EQIX) in a report released on Tuesday morning, Benzinga reports.

Several other equities research analysts have also recently issued reports on EQIX. Royal Bank of Canada decreased their price objective on shares of Equinix from $950.00 to $922.00 and set an outperform rating for the company in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft upped 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. TD Cowen raised their target price on Equinix from $859.00 to $865.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Mizuho upped their price target on Equinix from $873.00 to $971.00 and gave the company an outperform rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company raised shares of Equinix from an equal weight rating to an overweight rating and raised their price objective for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $891.57.

Equinix Trading Down 1.2 %

EQIX opened at $878.98 on Tuesday. The business has a fifty day moving average price of $825.20 and a 200 day moving average price of $792.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix has a 12 month low of $677.80 and a 12 month high of $914.93. The stock has a market capitalization of $83.42 billion, a price-to-earnings ratio of 88.16, a PEG ratio of 2.15 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.04 earnings per share. Sell-side analysts expect that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last quarter. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC acquired a new position in shares of Equinix during the 4th quarter worth $581,000. Brown Advisory Inc. purchased a new position in shares of Equinix during the 4th quarter worth approximately $288,000. Corient Private Wealth LLC raised its position in shares of Equinix by 4.1% during the 4th quarter. Corient Private Wealth LLC now owns 5,925 shares of the financial services provider’s stock worth $4,772,000 after purchasing an additional 231 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Equinix by 5.0% in the fourth quarter. Parallel Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 30 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Equinix during the fourth quarter valued at $630,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.