Financial services company Equitable Holdings (NYSE: EQH) will be reporting earnings this Monday after market hours. Here’s what you need to know.
Equitable Holdings missed analysts’ revenue expectations last quarter, reporting revenues of $3.74 billion, down 5.2% year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a miss of analysts’ EPS estimates.
Is Equitable Holdings a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Equitable Holdings’s revenue to grow 2.9% year on year, slowing from the 4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Equitable Holdings’s peers in the life insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CNO Financial Group delivered year-on-year revenue growth of 8.5%, beating analysts’ expectations by 3.2%, and Unum Group reported revenues up 1.9%, topping estimates by 8.9%. CNO Financial Group’s stock price was unchanged after the resultswhile Unum Group was up 4.5%.
Read our full analysis of CNO Financial Group’s results here and Unum Group’s results here.
There has been positive sentiment among investors in the life insurance segment, with share prices up 3.2% on average over the last month. Equitable Holdings is up 9.7% during the same time and is heading into earnings with an average analyst price target of $57.38 (compared to the current share price of $42.17).
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