Equinix (EQIX, $584.75) Q3 AFFO tops expectations
Equinix Inc.’s third-quarter adjusted funds from operations (AFFO) per share grew +11.4% year-over-year to $7.73, exceeding the Zacks Consensus Estimate of $7.19.
Revenues climbed +9.9% to $1.84 billion for the quarter , beating the Zacks Consensus Estimate of $1.83 billion.
For the full-year, the company boosted its revenue outlook by $15 million compared to prior guidance to a range of $7.240 billion- $7.260 billion. The increase results from better-than-expected business performance.
The company now expects adjusted EBITDA in the range of $3.352 billion - $3.372 billion, an increase of $46B compared to the prior forecast.
For the fourth quarter, the company expects projects revenue in the range of $1.848 billion to $1.868 billion, compared to consensus of $1.87 billion. Its guidance for adjusted EBITDA is between $821 million and $841 million.
EQIX in upward trend: price rose above 50-day moving average on May 25, 2023
EQIX moved above its 50-day moving average on May 25, 2023 date and that indicates a change from a downward trend to an upward trend. In of 41 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 45 cases where EQIX's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where EQIX advanced for three days, in of 344 cases, the price rose further within the following month. The odds of a continued upward trend are .
EQIX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 298 cases where EQIX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on May 18, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on EQIX as a result. In of 79 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for EQIX turned negative on May 17, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where EQIX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. EQIX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.711) is normal, around the industry mean (2.443). P/E Ratio (83.333) is within average values for comparable stocks, (45.370). Projected Growth (PEG Ratio) (3.794) is also within normal values, averaging (6.432). EQIX has a moderately low Dividend Yield (0.018) as compared to the industry average of (0.074). P/S Ratio (9.017) is also within normal values, averaging (6.173).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a real estate investment trust
Industry RealEstateInvestmentTrusts
EQIX and
Correlation & Price change
A.I.dvisor indicates that over the last year, EQIX has been closely correlated with DLR. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if EQIX jumps, then DLR could also see price increases.
| Ticker / NAME | Correlation To EQIX | 1D Price Change % | ||
|---|---|---|---|---|
| EQIX | 100% | +0.74% | ||
| DLR - EQIX | 83% Closely correlated | +1.73% | ||
| PLD - EQIX | 75% Closely correlated | -0.51% | ||
| SBAC - EQIX | 75% Closely correlated | -0.88% | ||
| CCI - EQIX | 75% Closely correlated | +0.40% | ||
| AMT - EQIX | 74% Closely correlated | -0.10% | ||
More | ||||
