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

Key Points

• Equitable beat quarterly earnings expectations: The company reported EPS of $2.13, exceeding the $1.86 consensus by $0.27, while revenue of $3.88 billion also topped estimates of $3.75 billion.
• Equitable shares rose to $54.21, near their 52-week high of $55.67. Analysts maintain a “Moderate Buy” consensus, with an average price target of $63.18.
• Company insiders sold 32,816 shares worth approximately $1.73 million during the last quarter, and insiders currently own 1% of Equitable’s stock.

Equitable (NYSE:EQH - Get Free Report) issued its quarterly earnings results on Monday. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.27, FiscalAI reports. The business had revenue of $3.88 billion during the quarter, compared to analysts' expectations of $3.75 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.

Equitable Price Performance

Shares of Equitable stock traded up $0.36 during trading on Monday, reaching $54.21. 2,418,678 shares of the company's stock were exchanged, compared to its average volume of 3,473,336. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. Equitable has a 1-year low of $35.19 and a 1-year high of $55.67. The company has a market cap of $14.80 billion, a P/E ratio of -16.38, a PEG ratio of 0.53 and a beta of 1.10. The firm's 50-day moving average price is $52.68 and its 200 day moving average price is $45.91.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EQH. Barclays lifted their price objective on Equitable from $52.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, October 7th. Wells Fargo & Company increased their target price on Equitable from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Raymond James Financial reissued a "strong-buy" rating and set a $65.00 target price on shares of Equitable in a report on Friday, October 9th. UBS Group raised their price target on Equitable from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised Equitable from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.18.

Insider Buying and Selling at Equitable

In related news, Director Craig MacKay sold 2,000 shares of the firm's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $54.27, for a total value of $108,540.00. Following the sale, the director directly owned 16,999 shares of the company's stock, valued at $922,535.73. This trade represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arlene Isaacs-Lowe sold 1,000 shares of Equitable stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $52.83, for a total value of $52,830.00. Following the completion of the transaction, the director owned 19,763 shares in the company, valued at approximately $1,044,079.29. This represents a 4.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,816 shares of company stock worth $1,731,591 over the last quarter. 1.00% of the stock is currently 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.

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