Scotiabank Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target hoisted by Scotiabank from $954.00 to $985.00 in a research note published on Thursday, Benzinga reports. They currently have a sector outperform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and increased their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Barclays increased their price target on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $944.63.

Equinix Stock Down 0.5 %

Shares of NASDAQ:EQIX traded down $4.49 during midday trading on Thursday, reaching $903.59. The company had a trading volume of 126,489 shares, compared to its average volume of 528,235. Equinix has a one year low of $684.14 and a one year high of $943.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $85.79 billion, a P/E ratio of 81.88, a PEG ratio of 2.19 and a beta of 0.71. The stock’s fifty day moving average price is $868.35 and its 200-day moving average price is $804.80.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.55%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.04 earnings per share. Equities research analysts expect that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.89%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders sold a total of 10,906 shares of company stock valued at $9,071,764 in the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CNB Bank boosted its position in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the 1st quarter valued at approximately $31,000. GHP Investment Advisors Inc. increased its stake in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.