Equitable (NYSE:EQH) Announces Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Equitable (NYSE:EQH) posted its earnings results on Monday. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.86 by $0.27, FiscalAI reports. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.75 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%. Equitable’s revenue for the quarter was up 167.7% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share.

Equitable Stock Up 0.7%

Shares of EQH opened at $54.21 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable has a 12 month low of $35.19 and a 12 month high of $55.67. The stock’s 50 day moving average is $52.79 and its two-hundred day moving average is $45.95. The firm has a market cap of $14.80 billion, a P/E ratio of -16.38, a PEG ratio of 0.54 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group upped their price objective on Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Barclays lifted their target price on shares of Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Wells Fargo & Company boosted their target price on shares of Equitable from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Jefferies Financial Group boosted their target price on shares of Equitable from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.18.

Insider Buying and Selling at Equitable

In related news, Director Craig C. Mackay sold 2,200 shares of Equitable stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $51.37, for a total value of $113,014.00. Following the sale, the director owned 18,999 shares of the company’s stock, valued at approximately $975,978.63. This trade represents a 10.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arlene Isaacs-Lowe sold 1,000 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $52.83, for a total transaction of $52,830.00. Following the transaction, the director owned 19,763 shares of the company’s stock, valued at $1,044,079.29. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 32,816 shares of company stock worth $1,731,591. 1.00% of the stock is currently owned by corporate insiders.

About Equitable

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.