Equinix (NASDAQ:EQIX) Releases FY 2020 After-Hours Earnings Guidance

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Equinix (NASDAQ:EQIX) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided EPS guidance of 24.42-25.00 for the period. The company issued revenue guidance of $6-6.05 billion, compared to the consensus revenue estimate of $6.04 billion.Equinix also updated its Q1 2020
After-Hours guidance to EPS.

EQIX has been the topic of a number of research reports. BMO Capital Markets reissued a positive rating and issued a $665.00 price objective on shares of Equinix in a research note on Thursday. BidaskClub upgraded shares of Equinix from a hold rating to a buy rating in a research report on Friday, January 31st. Cfra lifted their target price on shares of Equinix from $590.00 to $700.00 and gave the stock a buy rating in a research report on Friday. Wells Fargo & Co upped their price target on shares of Equinix from $620.00 to $675.00 and gave the company an overweight rating in a report on Thursday. Finally, Citigroup increased their price target on shares of Equinix from $652.00 to $710.00 and gave the company a buy rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $613.55.

NASDAQ:EQIX traded up $12.90 on Friday, reaching $648.65. The stock had a trading volume of 438,565 shares, compared to its average volume of 376,300. Equinix has a 12-month low of $399.57 and a 12-month high of $636.43. The company has a market cap of $49.49 billion, a price-to-earnings ratio of 109.94, a P/E/G ratio of 2.03 and a beta of 0.64. The firm’s fifty day moving average is $593.77 and its two-hundred day moving average is $565.00. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.10). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, research analysts forecast that Equinix will post 20.63 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $2.66 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $10.64 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Equinix’s previous quarterly dividend of $2.46. Equinix’s dividend payout ratio (DPR) is 47.56%.

In related news, CEO Charles J. Meyers sold 5,562 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.53, for a total transaction of $3,295,651.86. Following the transaction, the chief executive officer now directly owns 8,567 shares in the company, valued at $5,076,204.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 200 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $557.29, for a total value of $111,458.00. The disclosure for this sale can be found here. Insiders sold a total of 17,159 shares of company stock valued at $10,149,833 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

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.

Further Reading: Gross Domestic Product (GDP)

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