Equitable (NYSE:EQH) Issues Quarterly Earnings Results, Hits Estimates

Equitable (NYSE:EQH) released its quarterly earnings data on Monday. The company reported $1.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.53, Zacks reports. Equitable had a positive return on equity of 85.96% and a negative net margin of 2.64%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The company’s quarterly revenue was down 15.1% on a year-over-year basis.

Equitable Stock Performance

EQH stock opened at $50.40 on Thursday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. Equitable has a twelve month low of $25.88 and a twelve month high of $50.51. The business has a fifty day moving average of $43.03 and a 200-day moving average of $41.32.

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total transaction of $1,332,000.00. Following the completion of the sale, the chief executive officer now owns 658,555 shares in the company, valued at $29,239,842. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Equitable news, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.40, for a total value of $1,332,000.00. Following the transaction, the chief executive officer now owns 658,555 shares of the company’s stock, valued at $29,239,842. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,500 shares of company stock worth $3,969,870 over the last 90 days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays upped their price objective on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley cut their target price on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Truist Financial increased their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup lifted their price objective on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.70.

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.