Equinix, Inc. (EQIX) To Go Ex-Dividend on February 26th

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Wednesday, February 26th will be given a dividend of 4.69 per share by the financial services provider on Wednesday, March 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26.

Equinix has increased its dividend payment by an average of 14.1% annually over the last three years. Equinix has a payout ratio of 126.7% 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 $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 Price Performance

Shares of NASDAQ:EQIX opened at $919.68 on Monday. The stock has a market capitalization of $89.51 billion, a P/E ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The business has a 50-day moving average of $931.27 and a two-hundred day moving average of $902.71. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts predict that Equinix will post 33.1 EPS for the current fiscal year.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,741 shares of company stock valued at $21,988,532 over the last quarter. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EQIX shares. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Scotiabank decreased their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $994.82.

About Equinix

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.