Equinix (EQIX) to Release Earnings on Wednesday

Equinix (NASDAQ:EQIX) is set to release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Equinix to post earnings of $7.70 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect Equinix to post $31 EPS for the current fiscal year and $33 EPS for the next fiscal year.

Equinix Trading Up 2.1 %

Shares of Equinix stock opened at $914.33 on Monday. The firm has a market capitalization of $86.78 billion, a PE ratio of 91.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $861.56 and its 200 day moving average is $801.35.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.86%. Equinix’s payout ratio is presently 170.91%.

Insider Buying and Selling

In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 transaction of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EQIX shares. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Mizuho lifted their price objective on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Evercore ISI lifted their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $918.40.

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.