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

Equitable (NYSE:EQH) announced its quarterly earnings data on Monday. The company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.86 by $0.27, FiscalAI reports. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.75 billion. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%.

Equitable Stock Performance

Shares of EQH stock traded up $0.36 during trading hours on Monday, reaching $54.21. The company had a trading volume of 2,418,678 shares, compared to its average volume of 3,473,336. The business has a fifty day moving average price of $52.68 and a 200-day moving average price of $45.91. Equitable has a one year low of $35.19 and a one year high of $55.67. The firm has a market cap of $14.80 billion, a PE ratio of -16.38, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15.

Analysts Set New Price Targets

EQH has been the topic of several analyst reports. Barclays upped their target price on shares of Equitable from $52.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Wolfe Research lowered shares of Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Raymond James Financial restated a “strong-buy” rating and issued a $65.00 price objective on shares of Equitable in a report on Friday, October 9th. Keefe, Bruyette & Woods upped their price objective on Equitable from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company increased their target price on Equitable from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.18.

Insider Activity at Equitable

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