Equitable (NYSE:EQH) Issues Quarterly Earnings Results, Meets Expectations

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

Equitable Trading Up 13.3 %

NYSE:EQH opened at $50.40 on Thursday. Equitable has a 52-week low of $25.88 and a 52-week high of $50.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.06. The stock’s 50-day simple moving average is $43.03 and its 200 day simple moving average is $41.32.

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the sale, the chief executive officer now owns 678,555 shares in the company, valued at $28,635,021. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares in the company, valued at approximately $819,596.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the transaction, the chief executive officer now directly owns 678,555 shares in the company, valued at approximately $28,635,021. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,500 shares of company stock valued at $3,969,870. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EQH shares. Barclays lifted their price objective on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley reduced their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Truist Financial raised their price objective on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Citigroup lifted their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Equitable presently has a consensus 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.