Raymond James Financial Services Advisors Inc. Grows Holdings in Equinix, Inc. (NASDAQ:EQIX)

Raymond James Financial Services Advisors Inc. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,159 shares of the financial services provider’s stock after buying an additional 1,403 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Equinix were worth $18,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CNB Bank raised its stake in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares in the last quarter. LRI Investments LLC bought a new stake in Equinix during the first quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix during the second quarter valued at about $30,000. Rise Advisors LLC purchased a new stake in shares of Equinix during the first quarter valued at about $39,000. Finally, Rational Advisors LLC bought a new stake in shares of Equinix in the 1st quarter valued at about $53,000. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EQIX shares. Mizuho started coverage on shares of Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target on the stock. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note 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 stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Barclays upped their price objective on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $877.79.

Equinix Stock Performance

NASDAQ EQIX opened at $829.84 on Wednesday. The firm has a market capitalization of $78.76 billion, a P/E ratio of 83.23, a PEG ratio of 2.80 and a beta of 0.68. The stock has a 50-day simple moving average of $784.27 and a two-hundred day simple moving average of $796.04. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

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

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $4.26 dividend. 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’s dividend payout ratio is currently 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.