Brokerages Expect Prudential Financial Inc (NYSE:PRU) Will Announce Quarterly Sales of $13.61 Billion
Equities research analysts expect Prudential Financial Inc (NYSE:PRU) to report $13.61 billion in sales for the current quarter, Zacks reports. Sixteen analysts have provided estimates for Prudential Financial’s earnings, with the lowest sales estimate coming in at $12.99 billion and the highest estimate coming in at $14.77 billion. Prudential Financial posted sales of $13.04 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, July 31st.
On average, analysts expect that Prudential Financial will report full year sales of $56.42 billion for the current year, with estimates ranging from $52.75 billion to $60.38 billion. For the next year, analysts anticipate that the business will report sales of $58.60 billion, with estimates ranging from $53.35 billion to $62.44 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Prudential Financial.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, May 1st. The financial services provider reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.14). Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.74 billion. During the same quarter in the previous year, the business posted $3.08 EPS.
NYSE PRU traded up $0.19 on Thursday, reaching $100.94. 105,558 shares of the stock were exchanged, compared to its average volume of 2,028,964. Prudential Financial has a one year low of $75.61 and a one year high of $106.64. The firm has a market cap of $41.71 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.90 and a beta of 1.49. The firm’s 50-day moving average price is $99.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, May 28th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Friday, May 24th. Prudential Financial’s dividend payout ratio (DPR) is presently 34.22%.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of 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 in the last quarter. Norges Bank purchased a new position in Prudential Financial during the fourth quarter worth $632,295,000. Northern Trust Corp boosted its stake in Prudential Financial by 6.3% during the fourth quarter. Northern Trust Corp now owns 5,154,006 shares of the financial services provider’s stock worth $420,310,000 after buying an additional 305,259 shares during the period. Geode Capital Management LLC boosted its stake in Prudential Financial by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock worth $417,519,000 after buying an additional 326,075 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Prudential Financial by 5.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,487,379 shares of the financial services provider’s stock worth $228,541,000 after buying an additional 131,406 shares during the period. 63.23% of the stock is owned by hedge funds and other institutional investors.
About Prudential Financial
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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