We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Equinix (EQIX) Stock Moves -0.56%: What You Should Know
Read MoreHide Full Article
Equinix (EQIX - Free Report) ended the recent trading session at $806.65, demonstrating a -0.56% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow lost 1.51%, while the tech-heavy Nasdaq lost 2.43%.
Shares of the data center operator have appreciated by 8.3% over the course of the past month, outperforming the Finance sector's gain of 4.09% and the S&P 500's loss of 0.43%.
The investment community will be paying close attention to the earnings performance of Equinix in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. The company is expected to report EPS of $8.82, up 9.7% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.16 billion, indicating a 6.86% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $34.98 per share and a revenue of $8.76 billion, representing changes of +8.94% and +6.99%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Equinix. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Equinix is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Equinix is presently trading at a Forward P/E ratio of 23.19. This indicates a premium in contrast to its industry's Forward P/E of 14.2.
It is also worth noting that EQIX currently has a PEG ratio of 2.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. EQIX's industry had an average PEG ratio of 3.34 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 43, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Equinix (EQIX) Stock Moves -0.56%: What You Should Know
Equinix (EQIX - Free Report) ended the recent trading session at $806.65, demonstrating a -0.56% swing from the preceding day's closing price. This move was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow lost 1.51%, while the tech-heavy Nasdaq lost 2.43%.
Shares of the data center operator have appreciated by 8.3% over the course of the past month, outperforming the Finance sector's gain of 4.09% and the S&P 500's loss of 0.43%.
The investment community will be paying close attention to the earnings performance of Equinix in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. The company is expected to report EPS of $8.82, up 9.7% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.16 billion, indicating a 6.86% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $34.98 per share and a revenue of $8.76 billion, representing changes of +8.94% and +6.99%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Equinix. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Equinix is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Equinix is presently trading at a Forward P/E ratio of 23.19. This indicates a premium in contrast to its industry's Forward P/E of 14.2.
It is also worth noting that EQIX currently has a PEG ratio of 2.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. EQIX's industry had an average PEG ratio of 3.34 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 43, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.