Todays Report: The Equinix Inc. (EQIX) to Release Earnings on Wednesday

The Equinix Inc. (EQIX) to Release Earnings on Wednesday

Equinix Inc. (NASDAQ:EQIX) will announce its Q316 earnings results on Wednesday, November 2nd. Analysts expect the company to announce earnings of $3.85 per share and revenue of $919.73 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.64 by $3.08. The company earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The firm’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. On average, analysts expect Equinix to post $14.94 EPS for the current fiscal year and $18.58 EPS for the next fiscal year.

Equinix Inc. (NASDAQ:EQIX) opened at 354.97 on Monday. The company has a 50-day moving average price of $0.00 and a 200-day moving average price of $0.00.

In related news, insider Eric Schwartz sold 3,658 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $362.65, for a total value of $1,326,573.70. Following the transaction, the insider now directly owns 4,733 shares of the company’s stock, valued at approximately $1,716,422.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara Baack sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $353.96, for a total value of $106,188.00. Following the completion of the transaction, the insider now directly owns 6,004 shares in the company, valued at $2,125,175.84. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Alliancebernstein L.P. increased its position in shares of Equinix by 16.1% in the second quarter. Alliancebernstein L.P. now owns 138,404 shares of the company’s stock worth $53,663,000 after buying an additional 19,200 shares during the last quarter. GAM Holding AG increased its position in shares of Equinix by 77.4% in the second quarter. GAM Holding AG now owns 12,930 shares of the company’s stock worth $5,014,000 after buying an additional 5,643 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Equinix by 10.7% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 12,367 shares of the company’s stock worth $4,795,000 after buying an additional 1,200 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of Equinix by 10.9% in the second quarter. Sentry Investment Management LLC now owns 4,632 shares of the company’s stock worth $1,796,000 after buying an additional 456 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Equinix by 7.0% in the second quarter. Bank of Nova Scotia now owns 1,384 shares of the company’s stock worth $537,000 after buying an additional 90 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the company. Zacks Investment Research upgraded Equinix from a “hold” rating to a “buy” rating and set a $433.00 price target for the company in a research report on Tuesday, July 5th. Goldman Sachs Group Inc. assumed coverage on Equinix in a research report on Tuesday, July 5th. They issued a “buy” rating and a $435.00 price target for the company. Jefferies Group reiterated a “buy” rating and issued a $380.00 price target on shares of Equinix in a research report on Wednesday, July 6th. SunTrust Banks Inc. assumed coverage on Equinix in a research report on Thursday, July 21st. They issued a “buy” rating and a $445.00 price target for the company. Finally, Oppenheimer Holdings Inc. upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Tuesday, September 6th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $402.78.

Equinix Company Profile

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