Equinix (EQIX) to Release Earnings on Wednesday

Equinix (NASDAQ:EQIX) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $7.70 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

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

Equinix Trading Up 2.1 %

Shares of Equinix stock opened at $914.33 on Monday. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The company has a fifty day moving average of $861.56 and a 200 day moving average of $801.35. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $86.78 billion, a P/E ratio of 91.71, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.86%. Equinix’s payout ratio is 170.91%.

Insiders Place Their Bets

In related news, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of the company’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 sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on EQIX. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $918.40.

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.