Equinix, Inc. (EQIX) Expected to Announce Quarterly Sales of $1.19 Billion
Wall Street brokerages expect Equinix, Inc. (NASDAQ:EQIX) to announce $1.19 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Equinix’s earnings. Equinix posted sales of $942.65 million during the same quarter last year, which suggests a positive year-over-year growth rate of 26.2%. The business is scheduled to report its next earnings results on Wednesday, February 21st.
On average, analysts expect that Equinix will report full year sales of $1.19 billion for the current fiscal year, with estimates ranging from $4.31 billion to $4.36 billion. For the next financial year, analysts anticipate that the company will post sales of $5.02 billion per share, with estimates ranging from $4.85 billion to $5.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Equinix.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $3.95 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis.
Several equities analysts have commented on EQIX shares. Oppenheimer increased their price target on Equinix from $472.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Barclays upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $475.00 to $505.00 in a report on Wednesday, October 18th. Cowen reiterated a “buy” rating and set a $482.00 price target on shares of Equinix in a report on Friday, November 10th. Morgan Stanley increased their price target on Equinix from $424.00 to $435.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, Credit Suisse Group set a $515.00 price target on Equinix and gave the company a “buy” rating in a report on Tuesday, December 12th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and a consensus target price of $502.95.
Shares of Equinix (EQIX) traded down $1.89 during mid-day trading on Friday, reaching $453.22. The company’s stock had a trading volume of 266,235 shares, compared to its average volume of 426,703. Equinix has a one year low of $353.48 and a one year high of $495.35. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $35,604.94, a P/E ratio of 149.58, a PEG ratio of 1.83 and a beta of 0.46.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.77%. Equinix’s dividend payout ratio is 264.03%.
In other news, insider Michael Earl Campbell sold 200 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $463.61, for a total value of $92,722.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $476.81, for a total value of $953,620.00. Following the completion of the sale, the chief financial officer now directly owns 27,996 shares of the company’s stock, valued at $13,348,772.76. The disclosure for this sale can be found here. Insiders sold 6,193 shares of company stock valued at $2,892,191 over the last three months. 0.58% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of EQIX. Zions Bancorporation lifted its position in Equinix by 2,550.0% in the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 255 shares during the period. San Francisco Sentry Investment Group CA bought a new position in Equinix in the second quarter worth $127,000. Amica Retiree Medical Trust bought a new position in Equinix in the third quarter worth $188,000. Commerce Bank bought a new position in Equinix in the third quarter worth $203,000. Finally, Bienville Capital Management LLC bought a new position in Equinix in the second quarter worth $213,000. 94.16% of the stock is owned by 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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