Equinix (EQIX) Scheduled to Post Earnings on Wednesday

Equinix (NASDAQ:EQIX) will release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Equinix to post earnings of $7.70 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $8.04 earnings per share. On average, analysts expect Equinix to post $31 EPS for the current fiscal year and $33 EPS for the next fiscal year.

Equinix Price Performance

Shares of EQIX stock opened at $878.37 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s fifty day simple moving average is $857.54 and its 200 day simple moving average is $798.99. Equinix has a one year low of $677.80 and a one year high of $914.93. The firm has a market cap of $83.36 billion, a price-to-earnings ratio of 88.10, a P/E/G ratio of 2.13 and a beta of 0.71.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. Equinix’s dividend payout ratio is presently 170.91%.

Insider Buying and Selling at Equinix

In other news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EQIX. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $914.36.

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.