Equinix, Inc. Announces Quarterly Dividend of $4.26 (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, October 30th,NASDAQ Dividends reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 4.26 per share by the financial services provider on Wednesday, December 11th. This represents a $17.04 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Wednesday, November 13th.

Equinix has increased its dividend by an average of 10.8% per year over the last three years. Equinix has a dividend payout ratio of 132.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Equinix to earn $33.83 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 50.4%.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $913.50 on Tuesday. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $88.14 billion, a price-to-earnings ratio of 82.37, a PEG ratio of 2.31 and a beta of 0.71. The business has a 50-day moving average of $879.56 and a 200-day moving average of $813.36.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the sale, the insider now directly owns 6,505 shares of the company’s stock, valued at approximately $5,886,959.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,632 shares of company stock worth $10,633,777 in the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EQIX shares. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

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.