Equifax drops after soft 2024 guidance

Equifax

17/10/2024 14:23

** Shares of Equifax  EFX.N  down 4.8% premarket to $276.01,
over 2-month low, after credit ratings firm's 2024 outlook
disappoints
** Co late Weds said expects 2024 adj rev of $5.7-$5.72 bln, shy
of LSEG estimate of $5.74 bln, amid mortgage market slump
    ** Its outlook for 2024 adj EPS of $7.25-$7.35 also below
avg analysts' estimate of $7.36
    ** Co said remains confident in long-term 8%-12% rev growth
framework, which should lead to higher margins, accelerating
free cash flow
    ** Of 22 analysts covering EFX recommendation breakdown is
17 "strong buy" or "buy", rest "hold" and median PT is $314.50 -
LSEG
    ** Through Weds close, shares up 17% YTD vs S&P 500
Industrials index's  .SPLRCI  22% advance and S&P 500's  .SPX 
22.5% rise
     

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))