BTC Capital Management Inc. Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

BTC Capital Management Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 765 shares of the financial services provider’s stock after buying an additional 38 shares during the period. BTC Capital Management Inc.’s holdings in Equinix were worth $579,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. CNB Bank grew its position in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC purchased a new position in Equinix in the 1st quarter worth approximately $31,000. Criterion Capital Advisors LLC bought a new position in Equinix in the 4th quarter valued at approximately $32,000. Finally, Rise Advisors LLC bought a new stake in shares of Equinix in the 1st quarter worth $39,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQIX. Barclays lifted their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Mizuho initiated coverage on shares of Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. TD Cowen increased their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average price target of $877.79.

Equinix Trading Up 0.4 %

NASDAQ EQIX traded up $3.54 during trading on Monday, hitting $832.20. The stock had a trading volume of 72,436 shares, compared to its average volume of 561,686. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day simple moving average of $781.52 and a 200 day simple moving average of $796.25. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The stock has a market capitalization of $78.98 billion, a price-to-earnings ratio of 82.96, a P/E/G ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted $8.04 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Equinix, Inc. will post 31.23 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Equinix Company Profile

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.