Equinix, Inc. EQIX is a diversified data center landlord riding the artificial intelligence wave. Equinix operates 260 data centers in 71 markets worldwide. It generates 44% of total revenue in the Americas, 35% in Europe, the Middle East and Africa and 21% in Asia-Pacific.
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If You Bought Equinix Stock 20 Years Ago
The company's stock traded around $32.45 per share 20 years ago. If you had invested $1,000, you could have bought approximately 31 shares of Equinix stock. Currently, shares are trading at $825.23, which means your investment's value could have soared to $25,431 because of stock price appreciation. But wait, the company also paid dividends during these 20 years.
Equinix’s dividend yield is currently 2.05%. Over the last twenty years, it paid around $121.03 in dividends per share, which means you could have made $3,729 from dividends alone.
Summing up $25,431 and $3,729, we end up with the final value of your investment, which is $29,160. This is how much you could have made if you had invested $1,000 in Equinix stock 20 years ago. This represents a total return of 2,816%. The S&P 500 total return for the same period is 575.39%.
What Could The Next 20 Years Bring?
Equinix has a consensus rating of "Buy" and a price target of $844.15 based on the ratings of 29 analysts. The price target implies a potential upside of just around 2% from the current stock price.
According to our Benzinga Pro report, two analysts raised their price targets on Equinix earlier this month. Deutsche Bank increased its target to $910 from $880, reiterating its Buy rating, while TD Cowen raised the target to $865 from $859, maintaining its Buy rating.
On Aug. 7, Equinix announced its Q2 2024 earnings results, posting an AFFO of $9.22, compared to the consensus estimate of $8.86. As per Benzinga, revenues came in at $2.16 billion, above the consensus of $2.159 billion.
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“I am honored to lead Equinix’s exceptional team whose dedication enables us to consistently deliver against our strategy. Our strong performance in the second quarter, marked by record gross bookings, reinforces our belief that we are uniquely positioned to support our customers and partners in their business transformation agendas,” said Adaire Fox-Martin, CEO and President of Equinix.
As per the company's earnings announcement, it expects full-year revenues of $8.692 – $8.772 billion, an increase of 6–7% over the previous year.
AFFO per share is expected to be $34.67 – $35.30, an increase of 8–10% over the previous year or a normalized and constant currency increase of 9 – 11%.
Check out this article by Benzinga for two more dividend stocks to watch as the Fed weighs interest rate cuts.
Income-focused investors may find Equinix stock attractive, given a solid dividend yield of over 2% and consistent dividend hikes. Equinix has raised its dividend consecutively for the last 8 years.
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