Fintel reports that on September 8, 2023, Morgan Stanley maintained coverage of Equinix (NASDAQ:EQIX) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 11.65% Upside
As of August 31, 2023, the average one-year price target for Equinix is 861.29. The forecasts range from a low of 682.76 to a high of $984.90. The average price target represents an increase of 11.65% from its latest reported closing price of 771.44.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Equinix is 8,124MM, an increase of 13.02%. The projected annual non-GAAP EPS is 9.13.
Equinix Declares $3.41 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $3.41 per share ($13.64 annualized). Shareholders of record as of August 23, 2023 will receive the payment on September 20, 2023. Previously, the company paid $3.41 per share.
At the current share price of $771.44 / share, the stock's dividend yield is 1.77%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.77%, the lowest has been 1.27%, and the highest has been 2.69%. The standard deviation of yields is 0.30 (n=236).
The current dividend yield is 0.01 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.58. 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 is the Fund Sentiment?
There are 2012 funds or institutions reporting positions in Equinix. This is a decrease of 2 owner(s) or 0.10% in the last quarter. Average portfolio weight of all funds dedicated to EQIX is 0.87%, an increase of 3.55%. Total shares owned by institutions decreased in the last three months by 17.77% to 102,136K shares. 
The put/call ratio of EQIX is 1.25, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 4,593K shares representing 4.91% ownership of the company. In it's prior filing, the firm reported owning 4,593K shares, representing a decrease of 0.01%. The firm increased its portfolio allocation in EQIX by 2.00% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,067K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 4,062K shares, representing an increase of 0.13%. The firm increased its portfolio allocation in EQIX by 8.84% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,917K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 2,871K shares, representing an increase of 1.56%. The firm increased its portfolio allocation in EQIX by 1.90% over the last quarter.
Cohen & Steers holds 2,325K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 2,323K shares, representing an increase of 0.09%. The firm increased its portfolio allocation in EQIX by 6.13% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,227K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 2,159K shares, representing an increase of 3.03%. The firm increased its portfolio allocation in EQIX by 1.55% over the last quarter.
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.
Additional reading:
- Subsidiaries of Equinix, Inc.
- Press Release of Equinix, Inc. dated August 2, 2023.
- 2023 Form of Revenue/AFFO per Share/Digital Services Performance Restricted Stock Unit Agreement for Executives.
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This story originally appeared on Fintel.
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