Equifax (NYSE:EFX) Updates Q2 2024 Earnings Guidance

Equifax (NYSE:EFX) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.650-1.750 for the period, compared to the consensus earnings per share estimate of 1.870. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. Equifax also updated its FY 2024 guidance to 7.200-7.500 EPS.

Equifax Stock Down 0.6 %

Shares of NYSE EFX opened at $216.20 on Friday. The company has a 50-day moving average of $257.79 and a 200 day moving average of $231.21. Equifax has a 12-month low of $159.95 and a 12-month high of $275.10. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.04. The stock has a market cap of $26.86 billion, a PE ratio of 48.15, a P/E/G ratio of 1.76 and a beta of 1.51.

Equifax (NYSE:EFX) last posted its quarterly earnings results on Thursday, April 18th. The credit services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.06. Equifax had a net margin of 10.42% and a return on equity of 19.08%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $1.43 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Equifax will post 7.34 EPS for the current fiscal year.

Equifax Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Equifax’s payout ratio is currently 34.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on EFX. The Goldman Sachs Group lowered their price objective on shares of Equifax from $276.00 to $241.00 and set a neutral rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a buy rating and set a $305.00 price objective on shares of Equifax in a research report on Thursday. Truist Financial increased their price objective on shares of Equifax from $270.00 to $285.00 and gave the stock a buy rating in a research report on Friday, February 9th. Oppenheimer reduced their target price on shares of Equifax from $291.00 to $272.00 and set an outperform rating on the stock in a report on Friday. Finally, Evercore ISI upgraded shares of Equifax from an in-line rating to an outperform rating and increased their target price for the stock from $210.00 to $310.00 in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Equifax presently has a consensus rating of Moderate Buy and an average target price of $266.35.

Institutional Investors Weigh In On Equifax

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC raised its holdings in shares of Equifax by 8.5% in the 4th quarter. Penserra Capital Management LLC now owns 637 shares of the credit services provider’s stock valued at $123,000 after purchasing an additional 50 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Equifax by 4.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,188 shares of the credit services provider’s stock valued at $231,000 after buying an additional 50 shares during the last quarter. BSW Wealth Partners grew its position in shares of Equifax by 3.5% in the 1st quarter. BSW Wealth Partners now owns 1,518 shares of the credit services provider’s stock valued at $308,000 after buying an additional 51 shares during the last quarter. United Capital Financial Advisers LLC grew its position in shares of Equifax by 4.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 1,411 shares of the credit services provider’s stock valued at $334,000 after buying an additional 54 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Equifax by 5.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,041 shares of the credit services provider’s stock valued at $202,000 after buying an additional 57 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Equifax Company Profile

Equifax Inc operates as a data, analytics, and technology company. The company operates through three segments: Workforce Solutions, U.S. Information Solutions (USIS), and International. The Workforce Solutions segment offers services that enables customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure, and sanctions of people in the United States; and employer customers with services that assist them in complying with and automating payroll-related and human resource management processes throughout the entire cycle of the employment relationship.