Prudential Financial (PRU) Releases FY18 Earnings Guidance
Prudential Financial (NYSE:PRU) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $11.20-11.70 for the period, compared to the Thomson Reuters consensus estimate of $11.37.
A number of brokerages recently weighed in on PRU. ValuEngine upgraded shares of Prudential Financial from a buy rating to a strong-buy rating in a research report on Tuesday, December 5th. Wells Fargo & Company restated a hold rating and set a $120.00 target price (up previously from $114.00) on shares of Prudential Financial in a research report on Wednesday, November 8th. Royal Bank of Canada restated a hold rating and set a $119.00 target price on shares of Prudential Financial in a research report on Friday, November 3rd. B. Riley restated a buy rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Keefe, Bruyette & Woods reiterated a buy rating on shares of Prudential Financial in a research report on Friday, November 10th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $115.64.
Prudential Financial (NYSE PRU) traded down $2.44 during mid-day trading on Thursday, reaching $113.95. 1,759,700 shares of the company’s stock traded hands, compared to its average volume of 1,842,623. Prudential Financial has a fifty-two week low of $97.88 and a fifty-two week high of $117.99. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $49,040.00, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.31 and a beta of 1.55.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter last year, the business earned $2.66 earnings per share. research analysts anticipate that Prudential Financial will post 10.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s dividend payout ratio is currently 30.24%.
In related news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares in the company, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. In the last three months, insiders sold 100,017 shares of company stock worth $11,219,151. Insiders own 0.66% of the company’s stock.
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Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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