On March 27, 2023, BMO Capital upgraded their outlook for Equinix (NASDAQ:EQIX) from Market Perform to Outperform.
Analyst Price Forecast Suggests 17.06% Upside
As of March 27, 2023, the average one-year price target for Equinix is $797.98. The forecasts range from a low of $653.47 to a high of $928.20. The average price target represents an increase of 17.06% from its latest reported closing price of $681.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Equinix is $8,124MM, an increase of 20.84%. The projected annual non-GAAP EPS is $9.13.
Equinix Declares $3.41 Dividend
On February 15, 2023 the company declared a regular quarterly dividend of $3.41 per share ($13.64 annualized). Shareholders of record as of March 7, 2023 received the payment on March 22, 2023. Previously, the company paid $3.10 per share.
At the current share price of $681.70 / share, the stock's dividend yield is 2.00%. Looking back five years and taking a sample every week, the average dividend yield has been 1.80%, the lowest has been 1.27%, and the highest has been 2.69%. The standard deviation of yields is 0.32 (n=237).
The current dividend yield is 0.61 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.80. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Capital International Investors holds 4,366K shares representing 4.71% ownership of the company. In it's prior filing, the firm reported owning 3,641K shares, representing an increase of 16.60%. The firm increased its portfolio allocation in EQIX by 27.14% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,127K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 4,161K shares, representing a decrease of 0.81%. The firm decreased its portfolio allocation in EQIX by 3.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,813K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 2,717K shares, representing an increase of 3.42%. The firm increased its portfolio allocation in EQIX by 10.11% over the last quarter.
Cohen & Steers holds 2,320K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 2,060K shares, representing an increase of 11.20%. The firm increased its portfolio allocation in EQIX by 27.96% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,139K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 2,065K shares, representing an increase of 3.49%. The firm increased its portfolio allocation in EQIX by 9.92% over the last quarter.
What is the Fund Sentiment?
There are 1957 funds or institutions reporting positions in Equinix. This is an increase of 31 owner(s) or 1.61% in the last quarter. Average portfolio weight of all funds dedicated to EQIX is 0.81%, an increase of 6.58%. Total shares owned by institutions increased in the last three months by 2.78% to 101,432K shares. The put/call ratio of EQIX is 1.63, indicating a bearish outlook.
Equinix Background Information
(This description is provided by the company.)
Equinix is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
