Prudential Financial Inc (NYSE:PRU) Expected to Post Earnings of $3.20 Per Share

Brokerages expect Prudential Financial Inc (NYSE:PRU) to announce earnings per share of $3.20 for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have made estimates for Prudential Financial’s earnings, with the highest EPS estimate coming in at $3.36 and the lowest estimate coming in at $3.00. Prudential Financial reported earnings of $3.15 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to issue its next earnings report after the market closes on Monday, November 4th.

On average, analysts expect that Prudential Financial will report full-year earnings of $12.37 per share for the current fiscal year, with EPS estimates ranging from $11.90 to $12.80. For the next fiscal year, analysts anticipate that the business will post earnings of $13.40 per share, with EPS estimates ranging from $12.77 to $14.00. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Prudential Financial.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.22 by ($0.08). The company had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same period in the prior year, the firm posted $3.01 earnings per share.

Several equities research analysts recently commented on PRU shares. Atlantic Securities cut shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. UBS Group upped their price target on shares of Prudential Financial from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Goldman Sachs Group decreased their price target on shares of Prudential Financial from $107.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 25th. Finally, Barclays set a $108.00 price objective on shares of Prudential Financial and gave the stock a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $99.63.

PRU opened at $85.91 on Tuesday. The stock has a market capitalization of $35.09 billion, a P/E ratio of 7.32, a P/E/G ratio of 0.78 and a beta of 1.57. Prudential Financial has a 12 month low of $75.61 and a 12 month high of $106.64. The firm’s fifty day simple moving average is $84.48 and its 200 day simple moving average is $94.87. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Monday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 34.22%.

In related news, CEO Charles F. Lowrey bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $83.68 per share, with a total value of $627,600.00. Following the completion of the purchase, the chief executive officer now directly owns 64,263 shares in the company, valued at $5,377,527.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Tanji bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $83.84 per share, for a total transaction of $209,600.00. Following the completion of the purchase, the chief financial officer now owns 19,285 shares of the company’s stock, valued at $1,616,854.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 13,580 shares of company stock valued at $1,137,848. 0.76% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Coastal Capital Group Inc. bought a new position in Prudential Financial during the second quarter worth $25,000. WealthStone Inc. bought a new position in Prudential Financial during the second quarter worth $25,000. Ibex Wealth Advisors bought a new position in Prudential Financial during the second quarter worth $26,000. Virtus ETF Advisers LLC bought a new position in Prudential Financial during the second quarter worth $26,000. Finally, Bartlett & Co. LLC boosted its stake in Prudential Financial by 163.0% during the second quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 163 shares in the last quarter. 63.18% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Earnings History and Estimates for Prudential Financial (NYSE:PRU)

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