Equinix, Inc. (NASDAQ:EQIX) – Stock analysts at SunTrust Banks dropped their Q4 2018 earnings per share estimates for shares of Equinix in a research report issued on Wednesday. SunTrust Banks analyst G. Miller now forecasts that the financial services provider will post earnings per share of $4.81 for the quarter, down from their prior forecast of $4.82.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $3.95 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year.
A number of other analysts also recently weighed in on the company. Cowen restated a “buy” rating and issued a $482.00 price target on shares of Equinix in a research note on Friday, November 10th. Zacks Investment Research upgraded Equinix from a “hold” rating to a “buy” rating and set a $547.00 target price on the stock in a research report on Monday, November 6th. Berenberg Bank reiterated a “buy” rating and set a $550.00 target price on shares of Equinix in a research report on Friday, November 3rd. Oppenheimer boosted their target price on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley boosted their target price on Equinix from $424.00 to $435.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Equinix has a consensus rating of “Buy” and an average price target of $500.74.
Equinix (EQIX) traded down $2.56 during trading on Monday, hitting $449.83. The company had a trading volume of 213,895 shares, compared to its average volume of 492,115. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. Equinix has a 12-month low of $343.55 and a 12-month high of $495.35. The stock has a market capitalization of $35,392.14, a P/E ratio of 25.44, a PEG ratio of 1.82 and a beta of 0.46.
Institutional investors have recently added to or reduced their stakes in the stock. Forsta AP Fonden increased its stake in Equinix by 33.8% in the third quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock valued at $13,434,000 after purchasing an additional 7,600 shares during the last quarter. Verition Fund Management LLC increased its stake in Equinix by 17.0% in the second quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 119 shares during the last quarter. Amica Pension Fund Board of Trustees acquired a new position in Equinix in the third quarter valued at $1,235,000. Honeywell International Inc. increased its stake in Equinix by 30.0% in the third quarter. Honeywell International Inc. now owns 22,253 shares of the financial services provider’s stock valued at $9,932,000 after purchasing an additional 5,139 shares during the last quarter. Finally, Nicholas Company Inc. acquired a new position in Equinix in the second quarter valued at $3,201,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
In other news, insider Michael Earl Campbell sold 200 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $463.61, for a total value of $92,722.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 593 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders sold 5,993 shares of company stock worth $2,770,635 over the last 90 days. Company insiders own 0.58% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be given a $2.00 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.78%. Equinix’s dividend payout ratio is currently 264.03%.
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Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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