$3.51 Billion in Sales Expected for Equitable Holdings, Inc. (NYSE:EQH) This Quarter

Analysts expect Equitable Holdings, Inc. (NYSE:EQHGet Rating) to post $3.51 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Equitable’s earnings. The highest sales estimate is $3.55 billion and the lowest is $3.45 billion. Equitable posted sales of $3.62 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 3%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Equitable will report full-year sales of $14.39 billion for the current financial year, with estimates ranging from $14.24 billion to $14.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $14.74 billion, with estimates ranging from $14.39 billion to $15.06 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Equitable.

Equitable (NYSE:EQHGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.15). During the same quarter in the prior year, the company posted $1.13 earnings per share.

A number of equities analysts recently commented on the company. Citigroup assumed coverage on Equitable in a report on Monday, May 23rd. They set a “buy” rating and a $41.00 price target for the company. UBS Group raised Equitable to a “positive” rating in a research report on Wednesday, May 11th. Morgan Stanley lowered their target price on Equitable from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. JPMorgan Chase & Co. upgraded Equitable from a “neutral” rating to an “overweight” rating and set a $36.00 price target for the company in a research note on Wednesday. Finally, TheStreet raised Equitable from a “c+” rating to a “b” rating in a report on Monday, May 9th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Equitable has a consensus rating of “Buy” and an average price target of $43.30.

In other news, COO Jeffrey J. Hurd sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $31.74, for a total value of $253,920.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nick Lane sold 25,724 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $30.52, for a total value of $785,096.48. Following the completion of the transaction, the insider now owns 116,007 shares in the company, valued at approximately $3,540,533.64. The disclosure for this sale can be found here. In the last three months, insiders sold 165,449 shares of company stock valued at $5,066,188. Insiders own 0.98% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Equitable in the fourth quarter valued at $773,363,000. Select Equity Group L.P. purchased a new position in Equitable during the first quarter worth about $88,107,000. Goldman Sachs Group Inc. grew its position in Equitable by 94.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,723,505 shares of the company’s stock worth $115,094,000 after buying an additional 1,811,795 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Equitable during the third quarter worth about $1,796,000. Finally, Assenagon Asset Management S.A. purchased a new position in Equitable during the first quarter worth about $44,231,000.

Equitable stock opened at $30.89 on Friday. Equitable has a 52 week low of $25.73 and a 52 week high of $37.13. The stock has a market capitalization of $11.77 billion, a P/E ratio of 8.11 and a beta of 1.49. The stock has a 50-day simple moving average of $30.08 and a 200 day simple moving average of $31.99.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 6th. Stockholders of record on Monday, May 30th will be paid a $0.20 dividend. This is a boost from Equitable’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $0.80 annualized dividend and a dividend yield of 2.59%. Equitable’s dividend payout ratio is presently 18.90%.

About Equitable (Get Rating)

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.

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Earnings History and Estimates for Equitable (NYSE:EQH)

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