Equifax (NYSE:EFX) Issues FY 2024 Earnings Guidance

Equifax (NYSE:EFX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 7.200-7.500 for the period, compared to the consensus EPS estimate of 7.640. The company issued revenue guidance of $5.7 billion-$5.8 billion, compared to the consensus revenue estimate of $5.8 billion. Equifax also updated its FY24 guidance to $7.20-7.50 EPS.

Equifax Trading Down 0.4 %

Equifax stock traded down $0.89 during midday trading on Wednesday, hitting $237.68. 1,566,536 shares of the stock were exchanged, compared to its average volume of 787,436. The company has a fifty day simple moving average of $259.23 and a two-hundred day simple moving average of $231.00. Equifax has a 52 week low of $159.95 and a 52 week high of $275.10. The stock has a market capitalization of $29.53 billion, a PE ratio of 54.02, a P/E/G ratio of 1.91 and a beta of 1.51. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.04.

Equifax (NYSE:EFX) last announced its quarterly earnings results on Wednesday, April 17th. The credit services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Equifax had a net margin of 10.36% and a return on equity of 19.40%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Equities research analysts anticipate that Equifax will post 7.53 EPS for the current fiscal year.

Equifax Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, February 22nd. Equifax’s payout ratio is currently 35.45%.

Analyst Ratings Changes

A number of research analysts have weighed in on EFX shares. Redburn Atlantic lowered shares of Equifax from a buy rating to a neutral rating and set a $272.00 price target on the stock. in a research note on Thursday, January 11th. Oppenheimer lifted their price target on shares of Equifax from $273.00 to $291.00 and gave the company an outperform rating in a research note on Tuesday, April 9th. The Goldman Sachs Group lifted their price target on shares of Equifax from $195.00 to $222.00 and gave the company a neutral rating in a research note on Friday, December 29th. Bank of America raised shares of Equifax from an underperform rating to a buy rating and boosted their price objective for the stock from $164.00 to $300.00 in a research report on Monday, January 8th. Finally, Truist Financial boosted their price objective on shares of Equifax from $270.00 to $285.00 and gave the stock a buy rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Equifax has a consensus rating of Moderate Buy and a consensus price target of $267.00.

Hedge Funds Weigh In On Equifax

Several institutional investors and hedge funds have recently modified their holdings of EFX. American Trust bought a new position in Equifax during the fourth quarter worth about $216,000. UniSuper Management Pty Ltd bought a new position in Equifax during the second quarter worth about $212,000. Meridian Wealth Management LLC bought a new position in Equifax during the fourth quarter worth about $209,000. GSB Wealth Management LLC bought a new position in Equifax during the fourth quarter worth about $208,000. Finally, Washington Trust Bank bought a new position in Equifax during the first quarter worth about $203,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Equifax Company Profile

Equifax Inc operates as a data, analytics, and technology company. The company operates through three segments: Workforce Solutions, U.S. Information Solutions (USIS), and International. The Workforce Solutions segment offers services that enables customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure, and sanctions of people in the United States; and employer customers with services that assist them in complying with and automating payroll-related and human resource management processes throughout the entire cycle of the employment relationship.