Brokers Offer Predictions for Prudential Financial Inc’s FY2019 Earnings (PRU)

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Prudential Financial Inc (NYSE:PRU) – Equities researchers at B. Riley dropped their FY2019 earnings per share estimates for Prudential Financial in a research report issued to clients and investors on Monday, February 11th. B. Riley analyst R. Binner now forecasts that the financial services provider will earn $12.75 per share for the year, down from their prior estimate of $13.00. B. Riley also issued estimates for Prudential Financial’s FY2020 earnings at $13.85 EPS.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $17.78 billion for the quarter, compared to analysts’ expectations of $14.03 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. During the same period in the previous year, the business posted $2.69 EPS.

PRU has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $113.00 price objective on shares of Prudential Financial in a report on Wednesday, January 9th. Zacks Investment Research lowered Prudential Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co assumed coverage on Prudential Financial in a report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price objective on the stock. Morgan Stanley dropped their price objective on Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, November 8th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 target price for the company in a research note on Wednesday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $114.19.

Shares of PRU stock opened at $93.87 on Tuesday. The stock has a market cap of $38.56 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.79 and a beta of 1.41. Prudential Financial has a 1 year low of $75.61 and a 1 year high of $113.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.11 and a current ratio of 0.11.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Wednesday, February 20th will be paid a dividend of $1.00 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $4.00 annualized dividend and a dividend yield of 4.26%. Prudential Financial’s dividend payout ratio is 30.80%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Moody National Bank Trust Division lifted its position in Prudential Financial by 0.4% in the fourth quarter. Moody National Bank Trust Division now owns 94,645 shares of the financial services provider’s stock valued at $7,718,000 after purchasing an additional 340 shares during the period. IFM Investors Pty Ltd lifted its position in Prudential Financial by 16.7% in the third quarter. IFM Investors Pty Ltd now owns 22,260 shares of the financial services provider’s stock valued at $2,255,000 after purchasing an additional 3,186 shares during the period. Summit Financial Wealth Advisors LLC acquired a new stake in Prudential Financial in the third quarter valued at about $3,965,000. UMB Bank N A MO lifted its position in Prudential Financial by 7.7% in the third quarter. UMB Bank N A MO now owns 14,239 shares of the financial services provider’s stock valued at $1,443,000 after purchasing an additional 1,023 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its position in Prudential Financial by 2,043.7% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 68,406 shares of the financial services provider’s stock valued at $6,931,000 after purchasing an additional 65,215 shares during the period. Institutional investors and hedge funds own 66.23% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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