Equifax Inc.'s stock has dropped nearly 11% after being downgraded by Evercore ISI, raising concerns over its revenue forecasts. The company's first-quarter report showed adjusted earnings of $2.22 per share, exceeding estimates, but it also lowered its 2022 revenue guidance by $100 million. This caution stems from a projected 37.5% decline in U.S. mortgage market credit inquiries linked to rising interest rates, overshadowing its year-over-year revenue growth of 12% to $1.36 billion.
“Equifax Inc. · fell · shares · nearly 10 percent”
“Equifax Inc. · posted · adjusted earnings · $2.22 per share”
“Equifax Inc. · posted · adjusted earnings · $2.22 per share”
“Equifax Inc. · generated · revenue · $1.36 billion”
“Equifax Inc. · guided for · adjusted earnings · in the range of $1.98 - $2.08 per share”
“Equifax · stock fell · percentage · 11%”
“Equifax Inc. (NYSE:EFX) · is down · 6.29% · as of 11:51 AM ET”
“Equifax Inc. (NYSE:EFX) · was downgraded · from an Outperform to an In-Line rating · by David Togut at Evercore ISI”
“Equifax Inc. · is one of · the big three credit reporting services in the U.S”
“Equifax · is currently valued at · $26 billion”
“Equifax · has made acquisitions totaling · $2.9 billion · in 2021”
“Equifax · generated revenues of · $4.1 billion · in 2020”