Equinix, Inc. Declares Quarterly Dividend of $4.26 (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, October 30th, NASDAQ reports. Shareholders of record on Wednesday, November 13th will be paid a dividend of 4.26 per share by the financial services provider on Wednesday, December 11th. This represents a $17.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 13th.

Equinix has increased its dividend payment by an average of 10.8% per year over the last three years. Equinix has a payout ratio of 136.2% 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 $33.44 per share next year, which means the company should continue to be able to cover its $17.04 annual dividend with an expected future payout ratio of 51.0%.

Equinix Trading Down 0.2 %

NASDAQ EQIX traded down $2.14 during trading hours on Thursday, hitting $908.08. 850,695 shares of the company were exchanged, compared to its average volume of 530,166. The stock has a 50-day moving average price of $866.57 and a 200 day moving average price of $804.08. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02. The stock has a market cap of $86.22 billion, a PE ratio of 81.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $8.04 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets upped their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group upped their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Scotiabank increased their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at $7,531,365. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders sold a total of 10,906 shares of company stock worth $9,071,764 over the last 90 days. Company insiders own 0.27% of the company’s stock.

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.