Equinix, Inc. (EQIX) to Issue Quarterly Dividend of $4.26 on June 19th

Equinix, Inc. (NASDAQ:EQIXGet Free Report) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Wednesday, May 22nd will be paid a dividend of 4.26 per share by the financial services provider on Wednesday, June 19th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Tuesday, May 21st.

Equinix has increased its dividend by an average of 10.8% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Equinix has a dividend payout ratio of 136.8% meaning 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 $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 Stock Up 0.0 %

Shares of NASDAQ:EQIX opened at $799.83 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The firm has a market cap of $75.91 billion, a price-to-earnings ratio of 80.22, a PEG ratio of 2.22 and a beta of 0.62. The stock’s 50-day moving average price is $780.16 and its two-hundred day moving average price is $805.15. Equinix has a 12-month low of $672.88 and a 12-month high of $914.93.

Analysts Set New Price Targets

EQIX has been the topic of several research analyst reports. Truist Financial raised their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a report on Wednesday, March 20th. Wells Fargo & Company upped their price objective on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. TD Cowen reduced their target price on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Morgan Stanley dropped their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Seven equities research analysts have rated the stock with a hold rating, eight 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 a consensus target price of $874.44.

Get Our Latest Report on EQIX

Insider Activity

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

About Equinix

(Get Free Report)

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.

See Also

Dividend History for Equinix (NASDAQ:EQIX)

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