Zacks: Analysts Anticipate Prudential Financial Inc (NYSE:PRU) to Announce $3.24 EPS

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Equities analysts expect Prudential Financial Inc (NYSE:PRU) to announce earnings per share (EPS) of $3.24 for the current quarter, Zacks Investment Research reports. Fourteen analysts have made estimates for Prudential Financial’s earnings, with the lowest EPS estimate coming in at $3.00 and the highest estimate coming in at $3.37. 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 2.9%. The firm is scheduled to report its next earnings results on Wednesday, November 6th.

On average, analysts expect that Prudential Financial will report full year earnings of $12.48 per share for the current year, with EPS estimates ranging from $11.95 to $12.85. For the next financial year, analysts anticipate that the firm will post earnings of $13.57 per share, with EPS estimates ranging from $12.77 to $14.17. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Prudential Financial.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results 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). Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. The business had revenue of $14.11 billion during the quarter, compared to analysts’ expectations of $13.63 billion. During the same period in the previous year, the company posted $3.01 earnings per share.

Several research firms have commented on PRU. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a report on Monday, August 12th. ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. UBS Group cut shares of Prudential Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $116.00 to $112.00 in a report on Monday, May 13th. Wells Fargo & Co set a $115.00 price objective on shares of Prudential Financial and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays set a $108.00 price objective on shares of Prudential Financial and gave the stock a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Prudential Financial presently has an average rating of “Hold” and a consensus target price of $104.15.

NYSE:PRU traded down $2.38 during mid-day trading on Friday, hitting $79.70. The company’s stock had a trading volume of 76,712 shares, compared to its average volume of 2,621,032. Prudential Financial has a 1 year low of $75.61 and a 1 year high of $106.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $32.42 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.72 and a beta of 1.49. The business’s fifty day moving average is $94.23 and its two-hundred day moving average is $96.74.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.02%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.22%.

Several hedge funds have recently added to or reduced their stakes in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth about $25,000. Coastal Capital Group Inc. purchased a new stake in shares of Prudential Financial during the second quarter worth $25,000. WealthStone Inc. purchased a new stake in shares of Prudential Financial during the second quarter worth $25,000. Ibex Wealth Advisors purchased a new stake in shares of Prudential Financial during the second quarter worth $26,000. Finally, Virtus ETF Advisers LLC purchased a new stake in shares of Prudential Financial during the second quarter worth $26,000. 63.72% 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.

Further Reading: Return on Equity (ROE)

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

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