Brokerages Expect Aflac Incorporated (AFL) Will Post Quarterly Sales of $5.48 Billion
Equities analysts predict that Aflac Incorporated (NYSE:AFL) will announce $5.48 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Aflac’s earnings, with the lowest sales estimate coming in at $5.41 billion and the highest estimate coming in at $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 firm is expected to issue 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 $21.34 billion to $21.79 billion. For the next year, analysts forecast that the firm will report sales of $21.74 billion per share, with estimates ranging from $21.15 billion to $22.49 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Aflac.
Aflac (NYSE:AFL) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the business earned $1.65 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis.
Several equities analysts have recently commented on AFL shares. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Tuesday, September 5th. Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $78.00 in a research report on Tuesday, July 4th. BidaskClub cut shares of Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Barclays PLC increased their price target on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $78.13.
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In other news, President Kriss Cloninger III sold 3,500 shares of Aflac stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.06, for a total transaction of $283,710.00. Following the sale, the president now owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Douglas Wayne Johnson sold 1,500 shares of Aflac stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total value of $125,370.00. Following the sale, the director now directly owns 13,733 shares in the company, valued at approximately $1,147,804.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,899 shares of company stock worth $2,662,483. Corporate insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keybank National Association OH raised its holdings in shares of Aflac by 242.1% during the second quarter. Keybank National Association OH now owns 128,219 shares of the financial services provider’s stock valued at $9,960,000 after buying an additional 90,741 shares during the last quarter. New Amsterdam Partners LLC NY bought a new stake in shares of Aflac during the second quarter valued at approximately $531,000. Delta Lloyd Asset Management N.V. bought a new stake in shares of Aflac during the second quarter valued at approximately $3,306,000. Coho Partners Ltd. raised its holdings in shares of Aflac by 85.3% during the second quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock valued at $169,881,000 after buying an additional 1,006,477 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in shares of Aflac by 7.2% during the first quarter. Aviance Capital Partners LLC now owns 23,601 shares of the financial services provider’s stock valued at $1,709,000 after buying an additional 1,577 shares during the last quarter. 65.63% of the stock is currently owned by institutional investors.
Shares of Aflac (AFL) opened at 82.12 on Thursday. Aflac has a 12-month low of $66.50 and a 12-month high of $84.51. The stock has a 50 day moving average price of $81.95 and a 200 day moving average price of $77.51. The stock has a market capitalization of $32.46 billion, a P/E ratio of 12.42 and a beta of 0.96.
Aflac announced that its board has authorized a share buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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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