Equitable (NYSE:EQH) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Equitable (NYSE:EQH) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Zacks.com reports. The firm currently has $22.00 price target on the stock.

According to Zacks, “Equitable Holdings, Inc. is a financial services holding company comprised of two franchises, Equitable and AllianceBernstein. Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. “

Several other equities analysts have also weighed in on EQH. Royal Bank of Canada raised Equitable from a sector perform rating to an outperform rating and increased their target price for the company from $21.00 to $28.00 in a research note on Wednesday, September 2nd. TheStreet raised Equitable from a d+ rating to a c- rating in a research report on Tuesday, August 11th. Morgan Stanley raised their price target on Equitable from $24.00 to $25.00 and gave the stock an overweight rating in a research report on Thursday, August 20th. Finally, Credit Suisse Group reaffirmed a buy rating and set a $29.00 price target on shares of Equitable in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Equitable has an average rating of Buy and a consensus price target of $24.00.

Shares of EQH stock opened at $19.07 on Monday. The stock’s fifty day moving average is $20.89 and its 200-day moving average is $18.58. The stock has a market capitalization of $8.57 billion, a PE ratio of -317.78 and a beta of 1.71. Equitable has a 52 week low of $9.89 and a 52 week high of $27.30.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.13. The firm had revenue of ($2,530.00) million for the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the company earned $1.14 EPS. The company’s revenue was down 180.1% compared to the same quarter last year. Equities research analysts forecast that Equitable will post 4.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 11th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, August 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.57%. Equitable’s dividend payout ratio is 14.02%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its position in Equitable by 114.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,369 shares of the company’s stock worth $26,000 after acquiring an additional 730 shares during the last quarter. Berman Capital Advisors LLC grew its position in shares of Equitable by 103.4% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,418 shares of the company’s stock worth $27,000 after buying an additional 721 shares during the last quarter. RMR Wealth Builders bought a new stake in shares of Equitable in the 2nd quarter worth approximately $28,000. CSat Investment Advisory L.P. bought a new stake in shares of Equitable in the 2nd quarter worth approximately $29,000. Finally, IFP Advisors Inc grew its position in shares of Equitable by 75.9% in the 2nd quarter. IFP Advisors Inc now owns 1,729 shares of the company’s stock worth $32,000 after buying an additional 746 shares during the last quarter. 88.09% of the stock is currently owned by institutional investors.

Equitable Company Profile

Equitable Holdings, Inc operates as a diversified financial services company worldwide. It 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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