Equities Analysts Set Expectations for Equinix, Inc.’s FY2019 Earnings (EQIX)
Equinix, Inc. (NASDAQ:EQIX) – Equities researchers at Oppenheimer Holdings issued their FY2019 EPS estimates for Equinix in a research note issued on Wednesday. Oppenheimer Holdings analyst T. Horan forecasts that the financial services provider will post earnings of $21.45 per share for the year. Oppenheimer Holdings currently has a “Outperform” rating and a $472.00 target price on the stock.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.41 by $2.83. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. WARNING: “Equities Analysts Set Expectations for Equinix, Inc.’s FY2019 Earnings (EQIX)” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.dailypolitical.com/2017/08/07/equities-analysts-set-expectations-for-equinix-inc-s-fy2019-earnings-eqix.html.
A number of other equities research analysts have also recently weighed in on EQIX. Royal Bank Of Canada boosted their price objective on Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a research note on Monday. Cowen and Company reiterated an “outperform” rating and issued a $482.00 price objective (up previously from $465.00) on shares of Equinix in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $497.00 price objective (up previously from $485.00) on shares of Equinix in a research note on Thursday. Barclays PLC reiterated an “equal weight” rating and issued a $475.00 price objective (up previously from $410.00) on shares of Equinix in a research note on Thursday. Finally, BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $464.78.
Equinix (NASDAQ EQIX) opened at 445.98 on Monday. Equinix has a one year low of $314.55 and a one year high of $455.37. The firm has a market capitalization of $34.75 billion, a P/E ratio of 163.78 and a beta of 0.59.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, August 21st. Equinix’s payout ratio is currently 293.04%.
In related news, insider Yau Tat Lee sold 5,875 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the transaction, the insider now owns 5,485 shares of the company’s stock, valued at $2,406,269.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $440.99, for a total value of $440,990.00. Following the transaction, the chief financial officer now directly owns 36,296 shares in the company, valued at approximately $16,006,173.04. The disclosure for this sale can be found here. In the last three months, insiders sold 17,699 shares of company stock worth $7,722,276. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its position in shares of Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock worth $105,000 after buying an additional 217 shares in the last quarter. Point72 Asia Hong Kong Ltd raised its position in shares of Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock worth $101,000 after buying an additional 81 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Equinix during the first quarter worth $112,000. Guardian Life Insurance Co. of America raised its position in shares of Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock worth $120,000 after buying an additional 27 shares in the last quarter. Finally, Smithfield Trust Co. raised its position in shares of Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock worth $145,000 after buying an additional 54 shares in the last quarter. 95.31% of the stock is currently owned by hedge funds and other institutional investors.
Equinix Company Profile
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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