Equitable (EQH) Set to Announce Earnings on Tuesday

Equitable (NYSE:EQH) will post its quarterly earnings results after the market closes on Tuesday, July 30th. Analysts expect Equitable to post earnings of $1.46 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts expect Equitable to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Equitable Trading Up 1.7 %

Shares of EQH stock opened at $43.07 on Monday. Equitable has a 12-month low of $24.65 and a 12-month high of $43.53. The stock has a market capitalization of $14.01 billion, a P/E ratio of 13.33 and a beta of 1.43. The firm’s 50 day moving average is $41.11 and its 200 day moving average is $37.57.

Equitable Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. This is a positive change from Equitable’s previous quarterly dividend of $0.22. Equitable’s dividend payout ratio is presently 29.72%.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the transaction, the chief operating officer now owns 111,552 shares in the company, valued at approximately $4,806,775.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the transaction, the insider now owns 88,660 shares of the company’s stock, valued at $3,374,399.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the sale, the chief operating officer now directly owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,411 shares of company stock worth $6,627,658. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EQH has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Truist Financial increased their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. UBS Group downgraded shares of Equitable from a “buy” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $43.00 in a report on Tuesday, June 18th. Wells Fargo & Company reduced their price objective on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Finally, Citigroup lifted their target price on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Equitable has an average rating of “Moderate Buy” and a consensus target price of $43.45.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.