Equinix, Inc. Announces Quarterly Dividend of $4.26 (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, October 30th,NASDAQ Dividends reports. Investors of record on Wednesday, November 13th will be paid a dividend of 4.26 per share by the financial services provider on Wednesday, December 11th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Wednesday, November 13th.

Equinix has increased its dividend payment by an average of 10.8% annually over the last three years. Equinix has a dividend payout ratio of 132.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Equinix to earn $33.83 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 50.4%.

Equinix Stock Performance

NASDAQ EQIX opened at $913.50 on Tuesday. Equinix has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $88.14 billion, a PE ratio of 82.37, a P/E/G ratio of 2.31 and a beta of 0.71. The company’s 50 day simple moving average is $879.56 and its two-hundred day simple moving average is $813.36.

Analyst Ratings Changes

Several analysts have issued reports on EQIX shares. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. TD Cowen increased their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Scotiabank raised their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and raised their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,632 shares of company stock worth $10,633,777 over the last three months. 0.27% of the stock is currently owned by company insiders.

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.