Equinix (NASDAQ:EQIX) Lowered to Moderate Buy Rating by Cfra Research

Cfra Research cut shares of Equinix (NASDAQ:EQIX) from a strong-buy rating to a moderate buy rating in a research report report published on Thursday morning,Zacks.com reports.

Other equities analysts have also issued reports about the stock. New Street Research upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, April 28th. Barclays raised their price target on shares of Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Truist Financial decreased their price target on shares of Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a research report on Monday, May 12th. TD Securities raised their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Wolfe Research cut shares of Equinix from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Equinix has an average rating of “Buy” and a consensus target price of $977.30.

Equinix Stock Up 5.3%

Shares of NASDAQ EQIX opened at $785.11 on Thursday. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The stock has a market cap of $76.80 billion, a PE ratio of 81.61, a P/E/G ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average of $867.26 and a 200 day moving average of $881.19.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate 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 net margin of 10.48% and a return on equity of 6.96%. Equinix’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $8.86 EPS. As a group, sell-side analysts predict that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.39%. Equinix’s dividend payout ratio is presently 195.01%.

Insider Activity

In related news, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider’s stock worth $10,523,576,000 after purchasing an additional 242,121 shares during the last quarter. Geode Capital Management LLC increased its position in Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after purchasing an additional 62,005 shares during the last quarter. FMR LLC increased its position in Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after purchasing an additional 81,144 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. Institutional investors and hedge funds 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.