Equinix (NASDAQ:EQIX) Releases Quarterly Earnings Results, Misses Expectations By $3.88 EPS
Equinix (NASDAQ:EQIX) released its earnings results on Wednesday. The financial services provider reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.40 by ($3.88), MarketWatch Earnings reports. Equinix had a return on equity of 5.69% and a net margin of 8.69%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $1.69 EPS. Equinix’s revenue for the quarter was up 6.1% on a year-over-year basis. Equinix updated its Q3 2020
After-Hours guidance to EPS and its FY 2020
After-Hours guidance to 23.87-24.67 EPS.
Shares of EQIX stock traded down $5.89 during mid-day trading on Friday, hitting $772.06. 6,728 shares of the stock traded hands, compared to its average volume of 320,818. Equinix has a twelve month low of $477.87 and a twelve month high of $787.70. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 134.05, a price-to-earnings-growth ratio of 2.42 and a beta of 0.41. The company’s 50-day simple moving average is $712.51 and its 200-day simple moving average is $652.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.26 and a current ratio of 1.26.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, August 19th will be given a dividend of $2.66 per share. This represents a $10.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, August 18th. Equinix’s dividend payout ratio (DPR) is presently 46.65%.
EQIX has been the subject of a number of recent research reports. BidaskClub raised shares of Equinix from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays boosted their price objective on shares of Equinix from $821.00 to $876.00 and gave the company an “overweight” rating in a research report on Thursday. Nomura Securities boosted their price objective on shares of Equinix from $625.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wells Fargo & Co boosted their price objective on shares of Equinix from $790.00 to $840.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets upped their target price on shares of Equinix from $707.00 to $745.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Equinix presently has an average rating of “Buy” and a consensus target price of $765.16.
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: Why do corrections happen?
Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.