Zacks: Analysts Anticipate Prudential Financial, Inc. (PRU) to Post $2.69 Earnings Per Share
Brokerages forecast that Prudential Financial, Inc. (NYSE:PRU) will report earnings of $2.69 per share for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Prudential Financial’s earnings, with estimates ranging from $2.63 to $2.78. Prudential Financial reported earnings of $1.85 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 45.4%. The company is expected to report its next earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Prudential Financial will report full year earnings of $10.64 per share for the current year, with EPS estimates ranging from $10.55 to $10.77. For the next year, analysts expect that the firm will report earnings of $11.15 per share, with EPS estimates ranging from $11.00 to $11.38. Zacks’ EPS calculations are an average based on a survey of analysts that cover Prudential Financial.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.15. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. The business had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $12.75 billion. During the same quarter in the previous year, the company earned $2.18 EPS.
Several equities research analysts have recently issued reports on PRU shares. Vetr upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 price objective on the stock in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $117.00 price objective on shares of Prudential Financial in a research report on Tuesday, March 21st. Deutsche Bank AG lifted their price objective on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Tuesday, April 18th. Finally, BidaskClub upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Prudential Financial presently has a consensus rating of “Buy” and a consensus target price of $108.84.
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Prudential Financial (PRU) traded down 1.51% during trading on Thursday, reaching $103.31. 1,925,509 shares of the company’s stock were exchanged. Prudential Financial has a 12-month low of $66.51 and a 12-month high of $114.55. The stock’s 50-day moving average is $106.54 and its 200-day moving average is $106.89. The company has a market cap of $44.32 billion, a P/E ratio of 10.48 and a beta of 1.49.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Tuesday, May 23rd were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, May 19th. Prudential Financial’s dividend payout ratio is currently 30.46%.
In other news, insider Charles F. Lowrey sold 222,857 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the completion of the sale, the insider now directly owns 151,418 shares of the company’s stock, valued at $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of PRU. Prudential PLC bought a new stake in shares of Prudential Financial during the fourth quarter worth about $251,000. FIL Ltd raised its stake in shares of Prudential Financial by 54.2% in the fourth quarter. FIL Ltd now owns 409,509 shares of the financial services provider’s stock worth $42,614,000 after buying an additional 143,928 shares in the last quarter. Keybank National Association OH raised its stake in shares of Prudential Financial by 2.0% in the fourth quarter. Keybank National Association OH now owns 75,680 shares of the financial services provider’s stock worth $7,875,000 after buying an additional 1,508 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Prudential Financial during the fourth quarter worth about $1,446,000. Finally, Marshall Wace LLP bought a new stake in shares of Prudential Financial during the fourth quarter worth about $5,948,000. 62.99% of the stock is owned by hedge funds and other institutional investors.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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