Equinix, Inc. (NASDAQ:EQIX) to Issue Quarterly Dividend of $4.26

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Shareholders of record on Wednesday, November 13th will be paid a dividend of 4.26 per share by the financial services provider on Wednesday, December 11th. This represents a $17.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 13th.

Equinix has increased its dividend by an average of 10.8% annually over the last three years. Equinix has a payout ratio of 136.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Equinix to earn $33.44 per share next year, which means the company should continue to be able to cover its $17.04 annual dividend with an expected future payout ratio of 51.0%.

Equinix Stock Performance

NASDAQ EQIX traded down $2.14 on Thursday, hitting $908.08. 850,695 shares of the stock traded hands, compared to its average volume of 530,166. The business’s fifty day moving average is $866.57 and its two-hundred day moving average is $804.08. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02. The firm has a market capitalization of $86.22 billion, a price-to-earnings ratio of 81.88, a PEG ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last released 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $8.04 earnings per share. As a group, equities analysts anticipate that Equinix will post 31.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQIX. Barclays boosted their target price on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. BMO Capital Markets increased their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.63.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the sale, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock valued at $9,071,764 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

About Equinix

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.