Deutsche Bank Upgrades Prudential Financial to Buy (PRU)
Prudential Financial (NYSE:PRU) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $96.00 target price on the stock. Deutsche Bank’s price objective points to a potential upside of 20.03% from the stock’s previous close.
The analysts wrote, “compelling”
Shares of Prudential Financial (NYSE:PRU) traded down 0.59% during mid-day trading on Friday, hitting $79.51. 966,542 shares of the company’s stock traded hands. Prudential Financial has a 52 week low of $65.54 and a 52 week high of $92.68. The stock’s 50-day moving average is $81.96 and its 200-day moving average is $85.63. The company has a market cap of $36.734 billion and a price-to-earnings ratio of 29.15.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.14. The company had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $11.72 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts expect that Prudential Financial will post $9.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, June 19th. Investors of record on Tuesday, May 27th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, May 22nd.
PRU has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Prudential Financial in a research note on Thursday. They now have a $87.00 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Prudential Financial in a research note on Friday, May 9th. They now have a $108.00 price target on the stock, up previously from $101.00. Finally, analysts at RBC Capital cut their price target on shares of Prudential Financial from $102.00 to $100.00 in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Prudential Financial presently has a consensus rating of “Buy” and a consensus price target of $93.59.
Prudential Financial, Inc (NYSE:PRU) is a financial services company.
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