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Based in Atlanta, Georgia, Equifax Inc. (EFX) is a global data, analytics, and technology company that provides credit reporting services, risk management, and identity verification solutions. With a market cap of $36.32 billion, Equifax offers various services to businesses, governments, and consumers, including credit monitoring, fraud detection, and workforce solutions. The company is scheduled to announce its Q3 earnings on Wednesday, Oct. 16.
Ahead of the event, analysts expect EFX to report a profit of $1.82 per share, up 3.4% from $1.76 in the year-ago quarter. However, the company has beaten Wall Street's bottom-line estimates in three of the last four quarters while missing on another occasion.
Its adjusted earnings of $1.82 per share for the last quarter surpassed the consensus estimate by 5.8%. Solid Workforce Solutions and USIS segment growth primarily drove Equifax’s second-quarter 2024 beat.
For fiscal 2024, analysts expect EFX to report EPS of $7.33, up 9.2% from $6.71 in fiscal 2023.
EFX stock is up 17.4% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 19.7% gains and the Industrial Select Sector SPDR Fund's (XLI) 18.9% returns over the same time frame.
EFX stock surged 1.9% following its Q2 earnings release on Jul. 17. The company reported adjusted revenue of $1.43 billion, which topped forecasts of $1.42 billion. Equifax expects full-year revenue between $5.69 billion and $5.75 billion.
The consensus opinion on EFX stock is bullish, with an overall “Strong Buy” rating. Out of 19 analysts covering the stock, 13 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and five suggest a “Hold.”
EFX’s average analyst price target is $310.17, indicating a potential upside of 6.9% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
