Wall Street brokerages forecast that Prudential Financial Inc (NYSE:PRU) will announce earnings of $3.26 per share for the current quarter, Zacks reports. Sixteen analysts have provided estimates for Prudential Financial’s earnings. The lowest EPS estimate is $3.08 and the highest is $3.35. Prudential Financial posted earnings per share of $3.01 during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Prudential Financial will report full-year earnings of $12.74 per share for the current fiscal year, with EPS estimates ranging from $12.50 to $12.90. For the next year, analysts forecast that the company will report earnings of $13.86 per share, with EPS estimates ranging from $13.59 to $14.17. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Prudential Financial.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. The firm had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.74 billion. During the same quarter in the previous year, the business posted $3.08 earnings per share.
Shares of PRU traded down $0.10 during midday trading on Friday, reaching $99.23. The stock had a trading volume of 1,302,052 shares, compared to its average volume of 1,794,055. Prudential Financial has a 1-year low of $75.61 and a 1-year high of $106.64. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.87 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.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, May 28th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, May 24th. This represents a $4.00 annualized dividend and a yield of 4.03%. Prudential Financial’s dividend payout ratio is currently 34.22%.
A number of large investors have recently made changes to their positions in PRU. Oregon Public Employees Retirement Fund increased its stake in Prudential Financial by 8,297.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 11,790,464 shares during the period. Norges Bank acquired a new position in Prudential Financial in the fourth quarter valued at $632,295,000. BlackRock Inc. increased its stake in Prudential Financial by 6.5% in the first quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock valued at $2,715,518,000 after purchasing an additional 1,810,818 shares during the period. Bessemer Group Inc. increased its stake in Prudential Financial by 15,678.7% in the fourth quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock valued at $93,251,000 after purchasing an additional 1,136,235 shares during the period. Finally, Alps Advisors Inc. increased its stake in Prudential Financial by 2,198.0% in the fourth quarter. Alps Advisors Inc. now owns 475,874 shares of the financial services provider’s stock valued at $38,808,000 after purchasing an additional 455,166 shares during the period. Hedge funds and other institutional investors own 63.29% of the company’s stock.
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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