Equitable (NYSE:EQH) Posts Earnings Results

Equitable (NYSE:EQH) released 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 return on equity of 87.49% and a net margin of 7.87%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year.

Equitable Stock Performance

Shares of EQH stock traded down $0.60 during trading hours on Tuesday, reaching $44.40. The stock had a trading volume of 1,412,830 shares, compared to its average volume of 2,476,676. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a 50-day simple moving average of $42.81 and a 200-day simple moving average of $41.20. The firm has a market capitalization of $14.07 billion, a PE ratio of 18.57 and a beta of 1.40. Equitable has a twelve month low of $25.88 and a twelve month high of $46.48.

Wall Street Analyst Weigh In

EQH has been the topic of several research reports. Morgan Stanley cut their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Keefe, Bruyette & Woods increased their price objective on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Citigroup upped their target price on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial raised their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays upped their target price on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Insiders Place Their Bets

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

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.