Zacks: Analysts Anticipate Prudential Financial, Inc. (NYSE:PRU) to Announce $2.74 Earnings Per Share

Equities analysts expect that Prudential Financial, Inc. (NYSE:PRU – Get Rating) will post earnings per share of $2.74 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Prudential Financial’s earnings. The highest EPS estimate is $2.90 and the lowest is $2.36. Prudential Financial reported earnings of $3.79 per share in the same quarter last year, which would indicate a negative year over year growth rate of 27.7%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Prudential Financial will report full year earnings of $11.65 per share for the current year, with EPS estimates ranging from $11.30 to $12.06. For the next year, analysts anticipate that the company will post earnings of $12.96 per share, with EPS estimates ranging from $12.50 to $13.64. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Prudential Financial.

Prudential Financial (NYSE:PRU – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.50. Prudential Financial had a net margin of 8.09% and a return on equity of 9.35%. The firm had revenue of $13.66 billion during the quarter, compared to analysts’ expectations of $13.93 billion. During the same period in the previous year, the company earned $4.11 earnings per share.

PRU has been the subject of a number of research reports. Morgan Stanley boosted their price target on shares of Prudential Financial from $114.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 22nd. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Friday, January 21st. They issued a “market perform” rating and a $131.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Prudential Financial from $118.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, April 6th. Credit Suisse Group lowered shares of Prudential Financial from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $131.00 to $121.00 in a research note on Friday, March 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $113.00 to $120.00 in a research note on Tuesday, April 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $114.46.

PRU traded up $1.03 on Friday, reaching $101.19. The company had a trading volume of 1,956,558 shares, compared to its average volume of 1,842,419. Prudential Financial has a 1 year low of $94.51 and a 1 year high of $124.22. The stock has a market capitalization of $37.95 billion, a PE ratio of 8.21, a P/E/G ratio of 0.98 and a beta of 1.48. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $113.28 and a 200-day moving average price of $111.61.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Tuesday, May 24th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.74%. Prudential Financial’s dividend payout ratio (DPR) is 38.93%.

In other Prudential Financial news, SVP Candace Woods sold 1,262 shares of the company’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $116.74, for a total transaction of $147,325.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nicholas C. Silitch sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $109.74, for a total transaction of $219,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,444 shares of company stock worth $938,412. Company insiders own 0.31% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nvwm LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $25,000. Rather & Kittrell Inc. purchased a new position in shares of Prudential Financial during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $30,000. Finally, Ibex Wealth Advisors purchased a new position in shares of Prudential Financial during the third quarter valued at approximately $28,000. 56.77% of the stock is currently owned by institutional investors.

Prudential Financial Company Profile (Get Rating)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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