Equinix, Inc. Plans Quarterly Dividend of $5.16 (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Wednesday, August 19th will be given a dividend of 5.16 per share by the financial services provider on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 19th.

Equinix has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 10 years. Equinix has a dividend payout ratio of 130.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Equinix to earn $42.17 per share next year, which means the company should continue to be able to cover its $20.64 annual dividend with an expected future payout ratio of 48.9%.

Equinix Stock Down 2.6%

Shares of NASDAQ:EQIX opened at $1,008.02 on Thursday. The stock’s 50-day moving average is $1,055.12 and its 200 day moving average is $993.08. The company has a market cap of $99.41 billion, a PE ratio of 69.76, a P/E/G ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18. Equinix has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, topping the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the business posted $9.67 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Equinix will post 38.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Guggenheim reaffirmed a “buy” rating and issued a $1,235.00 price target on shares of Equinix in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Morgan Stanley boosted their price target on shares of Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Monday, April 13th. Finally, Scotiabank raised their price objective on shares of Equinix from $1,050.00 to $1,120.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $1,153.79.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.