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Equinix, Inc. (EQIX)

  • Wed, May 20, 8:56 AM
    • "The private letter ruling supports Equinix's (NASDAQ:EQIX) position with respect to numerous technical tax issues in connection with Equinix's election of REIT status and conversion to a REIT," says the company.
    • Equinix began its first day as a REIT on January 1 of this year.
    • Source: Press Release
    • Shares +2.4% premarket
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  • Thu, May 7, 5:17 PM
    • Equinix (NASDAQ:EQIX) declares $1.69/share quarterly dividend, in line with previous.
    • Forward yield 2.58%
    • Payable June 17; for shareholders of record May 27; ex-div May 22.
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  • Thu, May 7, 8:49 AM
    • UK-based data-center firm Telecity (OTCPK:TLEIY) says it's beginning talks to be taken over by Equinix (NASDAQ:EQIX) -- which is casting doubt on Telecity's already-agreed $2.2B deal to buy InterXion Holding (NYSE:INXN) from earlier this spring.
    • Equinix is up 2.2% in U.S. premarket trading.
    • Telecity's all-stock deal with Dutch firm InterXion prohibited either from talking with others, with few exceptions, though Telecity says it believes fiduciary duty requires it to listen to Equinix.
    • Equinix's offer would be for $3.5B and be 54% cash and 46% stock and establish the combo as Europe's top player in the industry, leaving InterXion a bit in the lurch. For its part, InterXion says it's committed to its "strategically compelling" deal with Telecity.
    • Equinix must decide on an offer for Telecity by June 4.
    • Telecity is up 19.4% in London trading.
    • Earlier: InterXion Holding beats by €0.01, beats on revenue (May. 07 2015)
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  • Mon, May 4, 2:55 PM
    • Facing the challenge of giving cloud customers the reliable connections they're used to with local software, Equinix (NASDAQ:EQIX) is offering private connections to Microsoft's (NASDAQ:MSFT) cloud-based Office 365, via Azure ExpressRoute through the Equinix Cloud Exchange.
    • Equinix formed its partnership to provide private conenctivity on Azure ExpressRoute in April 2014. Offering customers the ability to work on office away from the public Internet should be a selling point for both companies, as Office 365 is dependent on solid network latency.
    • Equinix will make the new offering available in its 15 markets in Q3.
  • Wed, Apr. 29, 7:34 PM
    • Equinix (NASDAQ:EQIX) has announced another move into Australia, this time with plans to invest more than $97M for a large-scale data center in Sydney.
    • The creation of SY4 would mean the company's fourth data center in Sydney and its fifth in Australia, and would take the company's total investment in the country to $360M.
    • The company notes Frost & Sullivan estimate the Australian data services market should grow to AUD$1.7B (about $1.36B) by 2020.
    • Previously: Equinix up 5.2% after revenues grow 11% (Apr. 29 2015)
    • Previously: CenturyLink expands into Australian data centers (Apr. 27 2015)
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  • Wed, Apr. 29, 5:38 PM
    • Data-center firm Equinix (NASDAQ:EQIX) is up 5.2% in late trading after a Q1 report where revenues grew 11%, and 1% sequentially, in its first quarter reporting and operating as a REIT.
    • EBITDA of $305.8M beat a consensus of $289.2M, and MRR churn was 2% (unchanged from Q4).
    • Cost of revenues declined 5% to $298.3M; gross margins were 54%, up from prior year's 50% and Q4's 51%.
    • Net income attributable to the company was $76.5M, or $1.35/share vs. an expected $0.80.
    • Capex for Q1 was $150.1M -- up from the prior year's $105.9M, but down from Q4's $238.5M.
    • Equinix guided for Q2 revenues of $654M-$658M, including a $6M negative currency impact. Adjusted EBITDA is expected at $304M-$308, higher than consensus of $301M.
    • Press release
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  • Wed, Apr. 29, 5:37 PM
  • Wed, Apr. 29, 4:11 PM
    • Equinix (NASDAQ:EQIX): Q1 AFFO of $3.77 beats by $0.58.
    • Revenue of $643.17M (+10.9% Y/Y) beats by $4.75M.
    • Press Release
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  • Tue, Apr. 28, 5:35 PM
  • Wed, Apr. 22, 2:29 PM
    • Cowen is out with a report updating data center REITs, Benzinga notes, including two on which it holds Outperform ratings: DuPont Fabros (NYSE:DFT) and CyrusOne (NASDAQ:CONE).
    • The analysts expect their top sector pick, CyrusOne, to beat on May 7 (and trade up 3% or more from there), and say "it remains cheap relative to its normalized FFO growth." Strong leasing trends, shell space availability and the reduced Cincinnati Bell ownership overhang are positives.
    • DuPont Fabros should keep its 2015 guidance even as Cowen expects it to beat consensus on May 7 as well -- though the analysts say they see a number of scenarios where the company could hit the high end of guidance.
    • Among other stocks, Cowen notes CoreSite Realty (NYSE:COR) is trading at 17.6x 2015 FFO (highest of its peers); Digital Realty (NYSE:DLR) should hit the low end of FFO guidance as forex headwinds worsen, and Equinix (NASDAQ:EQIX) already has a positive IRS determination factored in. Forex issues are also a concern for Equinix, which itself is trading high at 17x 2015 AFFO.
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  • Mon, Apr. 20, 4:09 PM
    • Equinix (EQIX +1.6%) should post revenue and EBITDA ahead of Street estimates amid "y/y growth in MRR ... and a secular shift to the cloud," according to Pacific Crest's Michael Bowen and Trevor Upton. It's one of five stocks that Pacific Crest mentioned buying into upcoming earnings in its Q1 Communications Services Preview.
    • The stocks all get an Outperform rating from the analysts. Equinix received a $255 price target and the firm "would remind investors that our bull case on shares remains $280." Shares closed today at $239.80 and the firm reports April 29.
    • Rackspace (RAX +0.9%) also benefits from shifting business, the firm says: "We believe we are in the early stages of a secular shift from on-premise data centers to hybrid clouds made up of private and public cloud platforms. We believe the company is executing more efficiently and improving its managed service value proposition." Their price target is $58; shares closed today at $52.53 and the company reports May 11.
    • SBA Communications (SBAC +1.8%) got a price target of $138 on expectations of strong leasing activity and hearing about positive impact from the FCC's last spectrum auction; it closed today at $121.84 and reports on Friday.
    • Cogent Communications (CCOI +1%) received a price target of $45 and closed today at $34.24; it reports May 7. GTT Communications (GTT +1.6%) got a $24 target and closed today at $18.31; it reports May 7 as well.
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  • Fri, Mar. 27, 8:02 AM
    • DuPont Fabros (NYSE:DFT) is lower by 1.9% premarket after Goldman starts it with a Sell rating and $29 price target on concern about customer concentration, repricing risk, and limited visibility into future growth.
    • Digital Realty (NYSE:DLR) and Equinix (NASDAQ:EQIX) are started at Neutral, and QTS Realty (NYSE:QTS) rates a Buy.
  • Fri, Mar. 13, 6:05 PM
    • Data center owner Equinix (NASDAQ:EQIX), real estate trust SL Green (NYSE:SLG), and apparel maker Hanesbrands (NYSE:HBI) will be joining the S&P 500 after the March 20 close. Medical distributor Henry Schein (NASDAQ:HSIC) will be joining after the March 17 close.
    • Leaving the index are oil/gas producer Denbury Resources (NYSE:DNR), energy services provider Nabors (NYSE:NBR), beauty product maker Avon (NYSE:AVP), and medical device maker CareFusion (about to be acquired). Denbury, Nabors, and Avon will be joining the S&P MidCap 400, taking Equinix, SL Green, and Hanesbrands' spots.
    • Also: Buffalo Wild Wings (NASDAQ:BWLD) is taking Henry Schein's place in the S&P 400 on March 17, and Talmer Bancorp (NASDAQ:TLMR) Buffalo Wild Wings' spot in the S&P SmallCap 600.
    • EQIX +2.1% AH. SLG +2%. HBI +3.7%. TLMR +3.6%. NBR -1.8%.
    | 1 Comment
  • Thu, Mar. 5, 4:01 PM
    • BofA/Merrill reports it has confirmed Equinix's (NASDAQ:EQIX) REIT conversion plans have been approved (as has generally been expected), and that it expects the data center owner to be added to the FTSE NAREIT benchmark Index.
    • Equinix has already signed off on a $7.57/share distribution needed to gain REIT eligibility. In December, the company announced it would begin operating as a REIT in 2015.
    • Shares are less than $5 away from a high of $238.81.
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  • Fri, Feb. 20, 1:15 PM
    • Down AH yesterday after missing Q4 EPS estimates (while beating on revenue) and offering light guidance, Equinix (EQIX +2.3%) is now higher. Shares are less than $2 away from an all-time high of $235.84.
    • The data center owner is guiding for Q1 revenue of $634M-$638M (below a $647.6M consensus), and full-year revenue of "greater than" $2.63B (below a $2.69B consensus). Forex is respectively expected to impact Q1 and full-year revenue by $19M and $100M.
    • While 2015 revenue guidance implies 8% Y/Y growth, AFFO is expected to rise 12% to "greater than" $810M. Capex is expected to rise to $700M-$800M from 2014's $660.2M.
    • Q4 AFFO was $194.5M (+10% Y/Y), and 2014 AFFO $761.7M (+12%). Quarterly business metrics were solid: Billed cabinets +2% Q/Q and +10% Y/Y to 97.9K; monthly recurring revenue per cabinet +1% and +2% to $2,001; and cross-connects +4% and +14% to 146.8K.
    • Q4 results, PR, earnings slides (.pdf)
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  • Thu, Feb. 19, 4:42 PM
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Company Description
Equinix Inc providesdata center offerings services. The Company offer its services toenterprises, financial services companies and content and network service providers.