Equinix, Inc. (NASDAQ:EQIX) Raises Dividend to $4.69 Per Share

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Wednesday, February 26th will be paid a dividend of 4.69 per share by the financial services provider on Wednesday, March 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26.

Equinix has increased its dividend payment by an average of 14.1% annually over the last three years. Equinix has a dividend payout ratio of 114.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Equinix to earn $33.96 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 50.2%.

Equinix Price Performance

Shares of EQIX opened at $923.00 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $89.06 billion, a PE ratio of 83.23, a P/E/G ratio of 2.23 and a beta of 0.72. The stock has a 50 day simple moving average of $936.92 and a 200 day simple moving average of $894.76. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. Sell-side analysts predict that Equinix will post 31.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,801 shares of company stock worth $15,530,564 over the last three months. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EQIX. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Truist Financial increased their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday. Scotiabank decreased their price target on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research note on Thursday. Finally, TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Buy” and a consensus target price of $994.82.

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.