Equitable (NYSE:EQH – Get Free Report) issued its quarterly earnings data on Monday. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.27, FiscalAI reports. Equitable had a return on equity of 636.12% and a net margin of 11.53%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business earned $1.48 earnings per share. The business’s revenue was up 167.7% on a year-over-year basis.
Equitable Stock Performance
Shares of EQH stock traded up $0.52 on Wednesday, hitting $55.76. 995,099 shares of the stock traded hands, compared to its average volume of 3,464,357. The company has a market capitalization of $15.22 billion, a PE ratio of 10.68, a PEG ratio of 0.53 and a beta of 1.06. The company’s fifty day moving average is $52.92 and its 200 day moving average is $45.98. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. Equitable has a 1-year low of $35.19 and a 1-year high of $56.83.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. UBS Group lifted their target price on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wolfe Research downgraded Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Weiss Ratings upgraded Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Evercore reaffirmed an “outperform” rating and set a $66.00 price target on shares of Equitable in a research report on Thursday, August 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.33.
Get Our Latest Analysis on Equitable
Insiders Place Their Bets
In related news, Director Bertram L. Scott sold 2,780 shares of Equitable stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $54.35, for a total value of $151,093.00. Following the sale, the director directly owned 23,685 shares in the company, valued at $1,287,279.75. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nick Lane sold 14,923 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $53.24, for a total value of $794,500.52. Following the transaction, the insider owned 110,007 shares of the company’s stock, valued at approximately $5,856,772.68. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,816 shares of company stock worth $1,731,591. Corporate insiders own 1.00% of the company’s stock.
Equitable Company Profile
Equitable Holdings, Inc (NYSE: EQH) is a financial services company that provides retirement, protection and wealth management solutions to individuals, families and institutions. Its businesses offer life insurance, annuities, investment products, retirement planning and financial advice.
Through Equitable, the company provides life insurance and retirement products, while Equitable Advisors offers financial planning, investment advisory and insurance services through a network of financial professionals.
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