Equinix, Inc. (EQIX) to Issue Quarterly Dividend of $5.16 on March 18th

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, February 11th. Shareholders of record on Wednesday, February 25th will be paid a dividend of 5.16 per share by the financial services provider on Wednesday, March 18th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, February 25th. This is a 10.0% increase from Equinix’s previous quarterly dividend of $4.69.

Equinix has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 10 years. Equinix has a dividend payout ratio of 118.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equinix to earn $36.09 per share next year, which means the company should continue to be able to cover its $18.76 annual dividend with an expected future payout ratio of 52.0%.

Equinix Stock Up 10.4%

NASDAQ:EQIX opened at $957.87 on Friday. Equinix has a 52 week low of $701.41 and a 52 week high of $992.90. The stock’s fifty day moving average is $788.39 and its two-hundred day moving average is $788.53. The stock has a market capitalization of $94.05 billion, a price-to-earnings ratio of 69.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.61%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.92 earnings per share. Research analysts anticipate that Equinix will post 33.1 EPS for the current year.

Analyst Ratings Changes

EQIX has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup reiterated a “buy” rating on shares of Equinix in a report on Thursday. Guggenheim boosted their price target on shares of Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley initiated coverage on Equinix in a research report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $990.55.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.