Equinix (NASDAQ:EQIX) Given New $1,018.00 Price Target at TD Securities

Equinix (NASDAQ:EQIX) had its target price increased by TD Securities from $978.00 to $1,018.00 in a report published on Thursday morning,Benzinga reports. TD Securities currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Barclays raised their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a report on Thursday, March 27th. Finally, Mizuho reduced their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of “Buy” and a consensus target price of $1,004.05.

Equinix Stock Up 1.6 %

Shares of NASDAQ:EQIX opened at $875.85 on Thursday. The company has a market capitalization of $85.67 billion, a PE ratio of 102.44, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company’s fifty day moving average is $828.81 and its 200-day moving average is $894.65.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.86 earnings per share. Equities research analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 2,454 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now directly owns 24,402 shares in the company, valued at $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Institutional investors have recently bought and sold shares of the company. Saturna Capital Corp raised its holdings in shares of Equinix by 13.1% in the first quarter. Saturna Capital Corp now owns 951 shares of the financial services provider’s stock valued at $775,000 after purchasing an additional 110 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Equinix by 107.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,233 shares of the financial services provider’s stock worth $2,636,000 after buying an additional 1,672 shares in the last quarter. Easterly Investment Partners LLC acquired a new position in shares of Equinix during the 1st quarter worth about $26,140,000. Graypoint LLC increased its position in shares of Equinix by 5.4% in the first quarter. Graypoint LLC now owns 842 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 43 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC raised its holdings in Equinix by 8.5% during the first quarter. Legacy Capital Wealth Partners LLC now owns 332 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

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.