Equinix (NASDAQ:EQIX) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 24.42-25.00 for the period. The company issued revenue guidance of $6-6.05 billion, compared to the consensus revenue estimate of $6.04 billion.Equinix also updated its Q1 2020
After-Hours guidance to EPS.
NASDAQ EQIX traded up $12.90 during trading hours on Friday, reaching $648.65. 438,565 shares of the company’s stock were exchanged, compared to its average volume of 376,300. The firm has a fifty day moving average of $593.77 and a 200-day moving average of $565.00. Equinix has a one year low of $399.57 and a one year high of $636.43. The stock has a market cap of $49.49 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.64. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.10). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. Equinix had a net margin of 9.03% and a return on equity of 5.94%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, research analysts forecast that Equinix will post 20.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $2.66 per share. This represents a $10.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, February 25th. This is a boost from Equinix’s previous quarterly dividend of $2.46. Equinix’s dividend payout ratio is presently 47.56%.
A number of brokerages have recently weighed in on EQIX. Morgan Stanley raised their target price on Equinix from $520.00 to $532.00 and gave the company an equal weight rating in a research note on Wednesday. Citigroup upped their price target on shares of Equinix from $652.00 to $710.00 and gave the stock a buy rating in a research report on Thursday. UBS Group increased their price objective on shares of Equinix from $630.00 to $695.00 and gave the stock a buy rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Equinix from $620.00 to $680.00 and gave the stock a buy rating in a report on Thursday. Finally, Raymond James raised their price objective on shares of Equinix from $560.00 to $625.00 and gave the company a strong-buy rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $613.55.
In related news, Director Camp Peter Van sold 1,459 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $592.29, for a total transaction of $864,151.11. Following the completion of the sale, the director now directly owns 3,628 shares of the company’s stock, valued at $2,148,828.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $557.29, for a total transaction of $111,458.00. The disclosure for this sale can be found here. Insiders have sold 17,159 shares of company stock worth $10,149,833 in the last ninety days. 0.49% of the stock is currently owned by insiders.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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