Equinix, Inc. (NASDAQ:EQIX) to Issue Quarterly Dividend of $4.69

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 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Equinix’s previous quarterly dividend of $4.26.

Equinix has raised its dividend by an average of 14.1% per year over the last three years. Equinix has a payout ratio of 114.1% 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 research analysts expect Equinix to earn $33.96 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 50.2%.

Equinix Stock Performance

NASDAQ:EQIX opened at $935.20 on Thursday. The company has a market capitalization of $90.24 billion, a P/E ratio of 84.33, a P/E/G ratio of 2.23 and a beta of 0.72. The business has a fifty day simple moving average of $937.53 and a two-hundred day simple moving average of $894.48. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, analysts expect that Equinix will post 31.09 earnings per share for the current year.

Insider Buying and Selling

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,801 shares of company stock worth $15,530,564. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Evercore ISI boosted their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their target price on Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Buy” and an average target price of $996.06.

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.