Prudential Financial Inc (NYSE:PRU) Expected to Post Quarterly Sales of $13.65 Billion

Wall Street analysts expect Prudential Financial Inc (NYSE:PRU) to report sales of $13.65 billion for the current fiscal quarter, according to Zacks. Sixteen analysts have provided estimates for Prudential Financial’s earnings, with estimates ranging from $12.99 billion to $14.77 billion. Prudential Financial posted sales of $13.04 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Prudential Financial will report full-year sales of $56.53 billion for the current year, with estimates ranging from $52.75 billion to $60.38 billion. For the next year, analysts forecast that the firm will report sales of $58.72 billion, with estimates ranging from $53.35 billion to $62.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Prudential Financial.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.14). The business had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same quarter in the prior year, the business posted $3.08 EPS.

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Prudential Financial from $114.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. ValuEngine upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Wednesday, May 8th. Deutsche Bank raised their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Wells Fargo & Co restated a “buy” rating and set a $115.00 price target on shares of Prudential Financial in a report on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $112.38.

A number of large investors have recently bought and sold shares of the stock. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Prudential Financial during the 1st quarter valued at about $25,000. Berman Capital Advisors LLC raised its stake in shares of Prudential Financial by 68.0% in the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 140 shares during the last quarter. Advisory Alpha LLC bought a new position in shares of Prudential Financial in the first quarter worth about $32,000. Old North State Trust LLC raised its stake in shares of Prudential Financial by 46.5% in the fourth quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 139 shares during the last quarter. Finally, Semmax Financial Advisors Inc. bought a new position in shares of Prudential Financial in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 63.29% of the company’s stock.

Shares of Prudential Financial stock traded up $0.09 during midday trading on Tuesday, reaching $99.42. 672,179 shares of the company’s stock traded hands, compared to its average volume of 1,806,439. The company has a market capitalization of $40.10 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.86 and a beta of 1.50. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. Prudential Financial has a 52 week low of $75.61 and a 52 week high of $106.64.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, May 28th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $4.00 dividend on an annualized basis and a yield of 4.02%. Prudential Financial’s payout ratio is presently 34.22%.

Prudential Financial Company Profile

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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