Equinix Inc (NASDAQ:EQIX) declared a quarterly dividend on Wednesday, July 29th, RTT News reports. Investors of record on Wednesday, August 19th will be paid a dividend of 2.66 per share by the financial services provider on Wednesday, September 23rd. This represents a $10.64 dividend on an annualized basis and a yield of 1.37%.
Equinix has raised its dividend by an average of 40.6% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Equinix has a payout ratio of 157.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Equinix to earn $24.13 per share next year, which means the company should continue to be able to cover its $10.64 annual dividend with an expected future payout ratio of 44.1%.
Shares of EQIX opened at $777.95 on Friday. Equinix has a 52 week low of $477.87 and a 52 week high of $787.70. The firm has a market cap of $66.16 billion, a P/E ratio of 134.83, a price-to-earnings-growth ratio of 2.42 and a beta of 0.41. The firm’s 50-day simple moving average is $712.51 and its 200 day simple moving average is $652.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.26 and a current ratio of 1.26.
In other news, Director Adaire Fox-Martin sold 58 shares of Equinix stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $713.42, for a total transaction of $41,378.36. Following the completion of the transaction, the director now directly owns 193 shares in the company, valued at $137,690.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Simon Miller sold 950 shares of Equinix stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $697.18, for a total transaction of $662,321.00. Following the transaction, the chief accounting officer now owns 1,034 shares of the company’s stock, valued at $720,884.12. The disclosure for this sale can be found here. Insiders sold 5,041 shares of company stock valued at $3,437,707 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.
EQIX has been the topic of a number of analyst reports. BidaskClub upgraded shares of Equinix from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $725.00 to $861.00 and gave the company an “overweight” rating in a research note on Thursday. Argus increased their price objective on shares of Equinix from $600.00 to $740.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Royal Bank of Canada increased their price objective on shares of Equinix from $688.00 to $706.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Co increased their price objective on shares of Equinix from $790.00 to $840.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and an average target price of $765.16.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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