Equinix, Inc. (NASDAQ:EQIX – Get Free Report) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Investors of record on Wednesday, August 21st will be given a dividend of 4.26 per share by the financial services provider on Wednesday, September 18th. This represents a $17.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, August 21st.
Equinix has raised its dividend payment by an average of 10.8% per year over the last three years. Equinix has a payout ratio of 141.3% 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 $33.52 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 50.8%.
Equinix Stock Performance
EQIX stock opened at $830.38 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The firm has a market cap of $78.81 billion, a P/E ratio of 83.29, a P/E/G ratio of 2.80 and a beta of 0.68. Equinix has a 12-month low of $677.80 and a 12-month high of $914.93. The stock’s 50 day simple moving average is $782.88 and its 200 day simple moving average is $796.14.
Wall Street Analysts Forecast Growth
EQIX has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. Barclays increased their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. TD Cowen increased their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Finally, Mizuho began coverage on shares of Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $877.79.
Check Out Our Latest Stock Analysis on EQIX
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.
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