Analysts expect Equinix Inc (NASDAQ:EQIX) to post $5.10 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Equinix’s earnings, with the lowest EPS estimate coming in at $4.91 and the highest estimate coming in at $5.43. Equinix posted earnings of $4.59 per share during the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The business is scheduled to report its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Equinix will report full year earnings of $20.78 per share for the current year, with EPS estimates ranging from $20.20 to $21.85. For the next financial year, analysts anticipate that the business will report earnings of $22.74 per share, with EPS estimates ranging from $17.54 to $24.59. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Equinix.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $3.70 by ($2.91). The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Equinix had a net margin of 5.48% and a return on equity of 7.00%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.14 EPS.
EQIX has been the topic of a number of analyst reports. BidaskClub upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. Deutsche Bank lifted their price objective on Equinix from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, April 17th. Deutsche Bank decreased their target price on shares of Equinix from $550.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, May 31st. Credit Suisse Group set a $525.00 target price on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, May 31st. Finally, Cowen reduced their price target on shares of Equinix from $546.00 to $494.00 and set an “outperform” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Equinix has a consensus rating of “Buy” and a consensus price target of $504.86.
Shares of NASDAQ EQIX traded down $0.14 during trading on Friday, reaching $418.86. 1,106,290 shares of the company traded hands, compared to its average volume of 576,867. The firm has a market capitalization of $33.29 billion, a P/E ratio of 22.60, a PEG ratio of 1.18 and a beta of 0.51. Equinix has a 12-month low of $370.79 and a 12-month high of $495.35. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.36 and a current ratio of 2.36.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 23rd were issued a $2.28 dividend. This represents a $9.12 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Tuesday, May 22nd. Equinix’s dividend payout ratio (DPR) is presently 49.22%.
In other Equinix news, insider Michael Earl Campbell sold 500 shares of the business’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $420.00, for a total transaction of $210,000.00. Following the sale, the insider now directly owns 1,927 shares in the company, valued at approximately $809,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $411.74, for a total transaction of $617,610.00. Following the sale, the chief financial officer now owns 29,341 shares in the company, valued at $12,080,863.34. The disclosure for this sale can be found here. Insiders sold a total of 12,660 shares of company stock valued at $5,110,570 over the last ninety days. Company insiders own 0.51% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Checchi Capital Advisers LLC grew its position in Equinix by 14.9% during the first quarter. Checchi Capital Advisers LLC now owns 964 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 125 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its stake in shares of Equinix by 2.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 5,989 shares of the financial services provider’s stock worth $2,504,000 after buying an additional 137 shares during the last quarter. Mason Street Advisors LLC lifted its stake in shares of Equinix by 1.3% in the first quarter. Mason Street Advisors LLC now owns 11,036 shares of the financial services provider’s stock worth $4,615,000 after buying an additional 139 shares during the last quarter. LS Investment Advisors LLC raised its stake in Equinix by 7.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,044 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 142 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Equinix by 11.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,512 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 97.35% 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 48 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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