Zacks: Brokerages Anticipate Aflac Incorporated (AFL) Will Announce Quarterly Sales of $5.48 Billion
Analysts expect that Aflac Incorporated (NYSE:AFL) will announce $5.48 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Aflac’s earnings, with estimates ranging from $5.41 billion to $5.55 billion. Aflac reported sales of $5.72 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.2%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that Aflac will report full-year sales of $5.48 billion for the current financial year, with estimates ranging from $21.44 billion to $21.79 billion. For the next financial year, analysts expect that the company will post sales of $21.85 billion per share, with estimates ranging from $21.33 billion to $22.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Aflac.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS.
A number of research firms have recently issued reports on AFL. Zacks Investment Research upgraded Aflac from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Friday. Bank of America Corporation lowered Aflac from a “neutral” rating to an “underperform” rating in a research note on Friday, September 8th. UBS AG reiterated an “overweight” rating on shares of Aflac in a research note on Thursday, August 24th. Barclays PLC increased their target price on Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Aflac currently has an average rating of “Hold” and a consensus target price of $77.23.
In related news, insider Teresa L. White sold 11,314 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total value of $882,605.14. Following the completion of the transaction, the insider now owns 26,847 shares of the company’s stock, valued at $2,094,334.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the transaction, the president now directly owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Atwood & Palmer Inc. boosted its holdings in Aflac by 320.5% in the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC lifted its holdings in Aflac by 2.1% during the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 30 shares during the last quarter. Harfst & Associates Inc. bought a new position in Aflac during the 1st quarter worth approximately $128,000. Capital Analysts LLC bought a new position in Aflac during the 2nd quarter worth approximately $131,000. Finally, Washington Trust Bank lifted its holdings in Aflac by 0.9% during the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after buying an additional 16 shares during the last quarter. 65.66% of the stock is owned by hedge funds and other institutional investors.
Aflac (NYSE AFL) opened at 82.81 on Friday. The stock has a market cap of $32.73 billion, a PE ratio of 12.52 and a beta of 0.97. The stock has a 50 day moving average price of $81.14 and a 200 day moving average price of $76.46. Aflac has a 52 week low of $66.50 and a 52 week high of $83.39.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 23rd were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, August 21st. Aflac’s dividend payout ratio is currently 25.94%.
Aflac declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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