Published On: Tue, Sep 13th, 2016

Equinix (EQIX) – Investment Analysts’ Weekly Ratings Changes

Equinix (NASDAQ: EQIX) recently received a number of ratings updates from brokerages and research firms:

9/13/2016 – Equinix had its “hold” rating reaffirmed by analysts at Jefferies Group.
9/6/2016 – Equinix was upgraded by analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating. They now have a $420.00 price target on the stock.
8/29/2016 – Equinix had its “hold” rating reaffirmed by analysts at Jefferies Group.
8/24/2016 – Equinix had its “buy” rating reaffirmed by analysts at Pacific Crest.
8/18/2016 – Equinix had its price target raised by analysts at Barclays PLC from $372.00 to $377.00. They now have an “equal weight” rating on the stock.
8/12/2016 – Equinix had its price target raised by analysts at Canaccord Genuity from $390.00 to $420.00. They now have a “buy” rating on the stock.
8/12/2016 – Equinix was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Equinix is a global provider of network-neutral data centers and Internet exchange services for enterprises, content companies, systems integrators and network service providers. The company posted strong second-quarter 2016 results, wherein both the top and bottom line not only came ahead of the Zacks Consensus Estimate but also witnessed significant improvement from the year-ago quarter. Revenues were driven mainly by strong demand for cloud services by corporations and benefits of the recently acquired Telecity and Bit-isle businesses. Moreover, an upbeat guidance for the full year was encouraging. The company strives to enhance customer experience through the Equinix Customer One program. Moreover, Equinix’s recurring revenue model and current expansion plans are impressive. However, intensifying competition, a highly leveraged balance sheet and industry consolidation remain its near-term headwinds.”
8/10/2016 – Equinix had its “outperform” rating reaffirmed by analysts at RBC Capital Markets. They now have a $429.00 price target on the stock, up previously from $382.00.
8/9/2016 – Equinix was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $408.00 price target on the stock. According to Zacks, “Equinix posted strong second-quarter 2016 results, wherein both the top and bottom line not only came ahead of the Zacks Consensus Estimate but also witnessed significant improvement from the year-ago quarter. Revenues were driven mainly by strong demand for cloud services by corporations and benefits of the recently acquired Telecity and Bit-isle businesses. Growth across geographies and business segments also had a positive impact on the top line. Moreover, an upbeat guidance for the full year was encouraging. The company strives to enhance customer experience through the Equinix Customer One program. Moreover, Equinix’s recurring revenue model and current expansion plans are impressive. However, intensifying competition, a highly leveraged balance sheet and industry consolidation remain its near-term headwinds.”
8/9/2016 – Equinix had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $428.00 price target on the stock.
8/8/2016 – Equinix had its price target raised by analysts at Royal Bank Of Canada from $382.00 to $429.00. They now have an “outperform” rating on the stock.
8/6/2016 – Equinix had its “hold” rating reaffirmed by analysts at Jefferies Group.
8/4/2016 – Equinix had its price target raised by analysts at Barclays PLC from $360.00 to $372.00. They now have an “equal weight” rating on the stock.
8/4/2016 – Equinix had its price target raised by analysts at Citigroup Inc. from $391.00 to $400.00. They now have a “neutral” rating on the stock.
7/21/2016 – Equinix is now covered by analysts at SunTrust Banks Inc.. They set a “buy” rating and a $445.00 price target on the stock.
7/15/2016 – Equinix was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating. They now have a $400.00 price target on the stock, up previously from $380.00. They noted that the move was a valuation call. They noted that the move was a valuation call.

Shares of Equinix Inc. (NASDAQ:EQIX) opened at 366.00 on Tuesday. Equinix Inc. has a 12 month low of $255.45 and a 12 month high of $391.07. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 361.30 and a beta of 0.80. The company’s 50 day moving average price is $369.77 and its 200 day moving average price is $351.85.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The business earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. During the same quarter last year, the business posted $1.03 EPS. The company’s quarterly revenue was up 35.3% on a year-over-year basis. On average, equities analysts expect that Equinix Inc. will post $14.93 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th will be given a $1.75 dividend. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.91%. Equinix’s dividend payout ratio (DPR) is presently 654.21%.
In related news, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $367.34, for a total value of $367,340.00. Following the sale, the chief financial officer now owns 44,444 shares in the company, valued at $16,326,058.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Schwartz sold 86 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $368.76, for a total value of $31,713.36. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.

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