Equitable FY2028 EPS Forecast Reduced by DOWLING & PARTN

Key Points

• DOWLING & PARTN lowered Equitable’s FY2028 EPS forecast to $10.25 from $10.40, while analysts’ current full-year consensus estimate is $7.15 per share.
• Equitable reported quarterly EPS of $1.70, beating expectations of $1.65, but revenue fell 29.8% year over year to $1.66 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $61.17.
• The company paid a quarterly dividend of $0.30 per share, equivalent to a $1.20 annualized payout and a 2.4% yield; institutional investors own 92.7% of the stock, while insiders have recently sold shares.

Equitable Holdings, Inc. (NYSE:EQH - Free Report) - Research analysts at DOWLING & PARTN cut their FY2028 earnings per share (EPS) estimates for shares of Equitable in a report released on Friday, August 14th. DOWLING & PARTN analyst J. Hurwitz now forecasts that the company will earn $10.25 per share for the year, down from their previous estimate of $10.40. The consensus estimate for Equitable's current full-year earnings is $7.15 per share.

Equitable (NYSE:EQH - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 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 down 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 earnings per share.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods raised their price target on Equitable from $62.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Wells Fargo & Company reissued an "overweight" rating on shares of Equitable in a research note on Wednesday. Wolfe Research lowered shares of Equitable from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their price target on shares of Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Equitable from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.17.

Equitable Price Performance

Shares of NYSE:EQH opened at $50.93 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The stock has a market cap of $13.90 billion, a PE ratio of -15.39, a PEG ratio of 0.52 and a beta of 1.09. The company's fifty day moving average is $47.51 and its 200 day moving average is $43.34. Equitable has a 52 week low of $35.19 and a 52 week high of $55.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in shares of Equitable in the 3rd quarter valued at approximately $26,000. Root Financial Partners LLC grew its stake in Equitable by 64.1% in the first quarter. Root Financial Partners LLC now owns 888 shares of the company's stock worth $33,000 after purchasing an additional 347 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Equitable in the second quarter worth $33,000. Covestor Ltd raised its holdings in Equitable by 124.7% in the fourth quarter. Covestor Ltd now owns 728 shares of the company's stock worth $35,000 after purchasing an additional 404 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Equitable in the third quarter worth $38,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Insiders Place Their Bets

In related news, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $48.54, for a total transaction of $1,927,038.00. Following the transaction, the chief executive officer owned 753,403 shares in the company, valued at $36,570,181.62. The trade was a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey J. Hurd sold 14,358 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $45.11, for a total transaction of $647,689.38. Following the completion of the transaction, the chief operating officer directly owned 74,748 shares of the company's stock, valued at approximately $3,371,882.28. The trade was a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 114,541 shares of company stock worth $5,357,784. Company insiders own 1.00% of the company's stock.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable's payout ratio is presently -36.25%.

About Equitable

Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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