Equifax (NYSE:EFX) Releases Q2 2024 Earnings Guidance

Equifax (NYSE:EFX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.650-1.750 for the period, compared to the consensus EPS estimate of 1.870. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. Equifax also updated its FY 2024 guidance to 7.200-7.500 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EFX shares. Oppenheimer raised their price objective on shares of Equifax from $273.00 to $291.00 and gave the stock an outperform rating in a research note on Tuesday, April 9th. Bank of America upgraded shares of Equifax from an underperform rating to a buy rating and lifted their price target for the company from $164.00 to $300.00 in a report on Monday, January 8th. Stifel Nicolaus raised their target price on shares of Equifax from $208.00 to $289.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Truist Financial raised their target price on shares of Equifax from $270.00 to $285.00 and gave the company a buy rating in a research note on Friday, February 9th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $305.00 price target on shares of Equifax in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Equifax presently has an average rating of Moderate Buy and a consensus price target of $267.00.

Equifax Price Performance

Shares of Equifax stock traded down $0.89 during mid-day trading on Wednesday, reaching $237.68. 1,566,536 shares of the stock were exchanged, compared to its average volume of 787,436. Equifax has a fifty-two week low of $159.95 and a fifty-two week high of $275.10. The firm has a 50-day simple moving average of $259.23 and a 200 day simple moving average of $231.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.04. The company has a market cap of $29.53 billion, a price-to-earnings ratio of 54.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.51.

Equifax (NYSE:EFX) last issued its quarterly earnings data on Wednesday, April 17th. The credit services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Equifax had a net margin of 10.36% and a return on equity of 19.40%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, sell-side analysts predict that Equifax will post 7.53 EPS for the current fiscal year.

Equifax Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, February 22nd. Equifax’s payout ratio is 35.45%.

Institutional Trading of Equifax

Several hedge funds have recently bought and sold shares of EFX. Eagle Bay Advisors LLC acquired a new stake in shares of Equifax in the second quarter valued at approximately $29,000. Compass Wealth Management LLC bought a new position in Equifax during the fourth quarter worth $53,000. Parkside Financial Bank & Trust boosted its position in Equifax by 91.4% during the first quarter. Parkside Financial Bank & Trust now owns 310 shares of the credit services provider’s stock worth $74,000 after purchasing an additional 148 shares during the period. Covestor Ltd boosted its position in Equifax by 59.0% during the first quarter. Covestor Ltd now owns 337 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 125 shares during the period. Finally, Advisory Services Network LLC bought a new position in Equifax during the fourth quarter worth $94,000. 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.