Brokerages Expect Equinix, Inc. (EQIX) to Post $3.84 EPS
Equities analysts expect that Equinix, Inc. (NASDAQ:EQIX) will announce earnings per share of $3.84 for the current quarter, Zacks reports. Five analysts have issued estimates for Equinix’s earnings. The highest EPS estimate is $4.43 and the lowest is $3.32. Equinix reported earnings of $3.95 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.8%. The firm is expected to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Equinix will report full year earnings of $15.07 per share for the current year, with EPS estimates ranging from $13.67 to $16.21. For the next year, analysts forecast that the business will report earnings of $17.74 per share, with EPS estimates ranging from $15.33 to $19.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Equinix.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by $2.83. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Equinix had a return on equity of 5.51% and a net margin of 5.18%.
EQIX has been the subject of a number of analyst reports. Mitsubishi UFJ Financial Group initiated coverage on Equinix in a research report on Tuesday, April 25th. They issued an “overweight” rating and a $433.00 price target for the company. Zacks Investment Research lowered Equinix from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Cowen and Company increased their price objective on Equinix from $453.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Jefferies Group LLC increased their price objective on Equinix from $378.00 to $410.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $465.00 price objective (up from $435.00) on shares of Equinix in a research report on Tuesday, April 25th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $464.78.
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In other news, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total value of $436,120.00. Following the sale, the chief financial officer now directly owns 32,996 shares in the company, valued at $14,390,215.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Yau Tat Lee sold 5,875 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $438.70, for a total value of $2,577,362.50. Following the completion of the sale, the insider now owns 5,485 shares in the company, valued at $2,406,269.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,699 shares of company stock valued at $7,722,276. Company insiders own 0.58% of the company’s stock.
Several hedge funds have recently made changes to their positions in EQIX. UBS Asset Management Americas Inc. boosted its stake in shares of Equinix by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 167,998 shares of the financial services provider’s stock valued at $60,044,000 after buying an additional 1,363 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Equinix by 12.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 67,059 shares of the financial services provider’s stock valued at $26,848,000 after buying an additional 7,338 shares during the last quarter. Creative Planning boosted its stake in shares of Equinix by 63.6% in the first quarter. Creative Planning now owns 692 shares of the financial services provider’s stock valued at $277,000 after buying an additional 269 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Equinix by 4.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 17,256 shares of the financial services provider’s stock valued at $6,909,000 after buying an additional 734 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Equinix by 1.0% in the first quarter. Quadrant Capital Group LLC now owns 616 shares of the financial services provider’s stock valued at $237,000 after buying an additional 6 shares during the last quarter. Institutional investors and hedge funds own 95.31% of the company’s stock.
Shares of Equinix (EQIX) traded down 0.30% during trading on Wednesday, hitting $444.23. The stock had a trading volume of 478,740 shares. The stock has a market cap of $34.62 billion, a PE ratio of 163.14 and a beta of 0.59. Equinix has a 52-week low of $314.55 and a 52-week high of $455.37.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.80%. Equinix’s dividend payout ratio is currently 293.04%.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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