In the latest trading session, Equinix (EQIX) closed at $867.70, marking a +0.34% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 2.17%.

Shares of the data center operator witnessed a gain of 4.24% over the previous month, beating the performance of the Finance sector with its gain of 4.06% and the S&P 500's gain of 2.92%.

The upcoming earnings release of Equinix will be of great interest to investors. The company's earnings per share (EPS) are projected to be $8.69, reflecting a 6.11% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.2 billion, showing a 6.8% escalation compared to the year-ago quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $35.10 per share and revenue of $8.74 billion. These totals would mark changes of +9.31% and +6.69%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Equinix. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.38% decrease. Equinix presently features a Zacks Rank of #3 (Hold).

Looking at its valuation, Equinix is holding a Forward P/E ratio of 24.64. This denotes a premium relative to the industry's average Forward P/E of 14.77.

Also, we should mention that EQIX has a PEG ratio of 1.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. EQIX's industry had an average PEG ratio of 3.57 as of yesterday's close.

The REIT and Equity Trust - Retail industry is part of the Finance sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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