Equinix, Inc. (EQIX) To Go Ex-Dividend on May 21st

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, April 30th, RTT News reports. Shareholders of record on Wednesday, May 21st will be paid a dividend of 4.69 per share by the financial services provider on Wednesday, June 18th. This represents a $18.76 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st.

Equinix has increased its dividend payment by an average of 14.1% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Equinix has a dividend payout ratio of 119.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equinix to earn $36.09 per share next year, which means the company should continue to be able to cover its $18.76 annual dividend with an expected future payout ratio of 52.0%.

Equinix Stock Up 1.0%

Shares of EQIX stock opened at $875.92 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix has a 1 year low of $701.41 and a 1 year high of $994.03. The firm’s fifty day moving average price is $825.46 and its two-hundred day moving average price is $892.63. The firm has a market capitalization of $85.68 billion, a P/E ratio of 102.45, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $8.86 EPS. On average, equities analysts predict that Equinix will post 33.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Oppenheimer upped their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Mizuho cut their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of “Buy” and an average target price of $1,004.89.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,167 shares of company stock valued at $6,658,536. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its position in shares of Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after buying an additional 54 shares during the period. Brighton Jones LLC increased its position in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after buying an additional 73 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 546 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.