Wall Street analysts expect that Prudential Financial, Inc. (NYSE:PRU) will report $2.70 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Prudential Financial’s earnings. The highest EPS estimate is $2.80 and the lowest is $2.63. Prudential Financial reported earnings per share of $1.85 in the same quarter last year, which suggests a positive year-over-year growth rate of 45.9%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Prudential Financial will report full year earnings of $10.67 per share for the current fiscal year, with EPS estimates ranging from $10.55 to $10.76. For the next year, analysts forecast that the firm will report earnings of $11.18 per share, with EPS estimates ranging from $11.00 to $11.37. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Prudential Financial.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.15. The business had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $12.75 billion. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same quarter in the prior year, the firm posted $2.18 EPS.
A number of research analysts recently commented on PRU shares. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG raised their price objective on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Tuesday, April 18th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Thursday, April 27th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $111.21.
Prudential Financial (NYSE:PRU) traded up 0.61% during midday trading on Tuesday, hitting $111.74. The company had a trading volume of 1,357,843 shares. Prudential Financial has a 12-month low of $72.25 and a 12-month high of $114.55. The company’s 50 day moving average is $108.06 and its 200 day moving average is $107.41. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 11.34 and a beta of 1.49.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of Prudential Financial stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the transaction, the chairman now owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP purchased a new position in Prudential Financial during the fourth quarter worth approximately $220,000. Quadrature Capital Ltd purchased a new position in Prudential Financial during the fourth quarter worth approximately $343,000. Wealthfront Inc. purchased a new position in Prudential Financial during the fourth quarter worth approximately $1,068,000. USA Financial Portformulas Corp purchased a new position in Prudential Financial during the fourth quarter worth approximately $3,104,000. Finally, Garde Capital Inc. purchased a new position in Prudential Financial during the fourth quarter worth approximately $221,000. 63.17% of the stock is owned by hedge funds and other institutional investors.
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About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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