$14.31 Billion in Sales Expected for Prudential Financial Inc (NYSE:PRU) This Quarter

Brokerages expect that Prudential Financial Inc (NYSE:PRU) will announce sales of $14.31 billion for the current fiscal quarter, according to Zacks. Fourteen analysts have provided estimates for Prudential Financial’s earnings. The lowest sales estimate is $13.03 billion and the highest is $15.50 billion. Prudential Financial reported sales of $14.43 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The business is expected to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Prudential Financial will report full-year sales of $56.82 billion for the current financial year, with estimates ranging from $52.80 billion to $61.78 billion. For the next financial year, analysts expect that the firm will report sales of $59.00 billion, with estimates ranging from $53.45 billion to $65.01 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Prudential Financial.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($0.08). Prudential Financial had a return on equity of 9.24% and a net margin of 6.92%. The firm had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the previous year, the company posted $3.01 EPS.

PRU has been the topic of a number of research reports. Citigroup downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $112.00 to $94.00 in a research report on Monday, August 5th. Barclays set a $108.00 target price on Prudential Financial and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. B. Riley cut shares of Prudential Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $122.00 to $100.00 in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 target price for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $104.15.

NYSE:PRU traded down $2.95 during mid-day trading on Friday, reaching $79.13. 1,986,357 shares of the company were exchanged, compared to its average volume of 2,691,684. Prudential Financial has a 12 month low of $75.61 and a 12 month high of $106.64. The company has a fifty day moving average of $93.78 and a 200 day moving average of $96.67. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. The stock has a market cap of $33.00 billion, a PE ratio of 6.77, a PEG ratio of 0.73 and a beta of 1.49.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 annualized dividend and a yield of 5.05%. Prudential Financial’s dividend payout ratio (DPR) is currently 34.22%.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Prudential Financial by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock worth $3,298,586,000 after buying an additional 324,451 shares during the last quarter. BlackRock Inc. raised its position in shares of Prudential Financial by 6.2% during the 2nd quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after buying an additional 1,840,652 shares during the period. Northern Trust Corp raised its position in Prudential Financial by 0.5% in the second quarter. Northern Trust Corp now owns 5,176,780 shares of the financial services provider’s stock valued at $522,855,000 after purchasing an additional 27,620 shares during the period. Geode Capital Management LLC raised its position in Prudential Financial by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after purchasing an additional 326,075 shares during the period. Finally, Invesco Ltd. raised its position in Prudential Financial by 72.7% in the second quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock valued at $386,426,000 after purchasing an additional 1,610,600 shares during the period. Hedge funds and other institutional investors own 63.72% 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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Earnings History and Estimates for Prudential Financial (NYSE:PRU)

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