Prudential Financial Price Target Increased to $88.00 by Analysts at Argus (PRU)
Equities researchers at Argus raised their price objective on shares of Prudential Financial (NYSE:PRU) from $75.00 to $88.00 in a research report issued on Tuesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Argus’ price objective points to a potential upside of 9.18% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Prudential Financial (NYSE:PRU) in a research note to investors on Monday. They now have a $82.00 price target on the stock. Separately, analysts at Barclays Capital upgraded shares of Prudential Financial (NYSE:PRU) from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, September 4th. They now have a $95.00 price target on the stock, up previously from $83.00. Finally, analysts at Sandler O’Neill raised their price target on shares of Prudential Financial (NYSE:PRU) to $86.00 in a research note to investors on Friday, August 9th.
Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $84.13.
Prudential Financial (NYSE:PRU) traded up 2.39% on Tuesday, hitting $80.60. The stock had a trading volume of 2,441,479 shares. Prudential Financial has a one year low of $48.17 and a one year high of $83.67. The stock’s 50-day moving average is $78.78 and its 200-day moving average is $68.51. The company’s market cap is $37.479 billion.
Prudential Financial (NYSE:PRU) last released its earnings data on Wednesday, August 7th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.32. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that Prudential Financial will post $8.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 19th. Investors of record on Tuesday, August 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, August 23rd.
In other Prudential Financial news, Director Constance J. Horner unloaded 5,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Prudential Financial, Inc (NYSE:PRU) is a financial services company.
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