Prudential Financial Inc (NYSE:PRU) Expected to Announce Quarterly Sales of $13.61 Billion
Analysts forecast that Prudential Financial Inc (NYSE:PRU) will post sales of $13.61 billion for the current quarter, according to Zacks. Sixteen analysts have issued 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 company is scheduled to report its next quarterly earnings results 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 fiscal year, analysts expect that the business will post sales of $58.60 billion, with estimates ranging from $53.35 billion to $62.44 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Prudential Financial.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the 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 company had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.74 billion. During the same quarter last year, the business posted $3.08 earnings per share.
Institutional investors have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. lifted its position in shares of Prudential Financial by 3.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 320,647 shares of the financial services provider’s stock worth $26,149,000 after buying an additional 11,528 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Prudential Financial by 749.6% during the fourth quarter. Eagle Asset Management Inc. now owns 41,229 shares of the financial services provider’s stock worth $3,362,000 after acquiring an additional 36,376 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Prudential Financial by 11.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,591 shares of the financial services provider’s stock worth $4,126,000 after acquiring an additional 5,196 shares during the last quarter. Raymond James & Associates increased its stake in Prudential Financial by 2.4% during the fourth quarter. Raymond James & Associates now owns 239,106 shares of the financial services provider’s stock worth $19,499,000 after acquiring an additional 5,584 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Prudential Financial by 11.8% during the fourth quarter. Advisor Group Inc. now owns 45,524 shares of the financial services provider’s stock worth $3,716,000 after acquiring an additional 4,794 shares during the last quarter. Hedge funds and other institutional investors own 63.23% of the company’s stock.
Shares of PRU stock traded up $0.19 during midday trading on Thursday, hitting $100.94. The company had a trading volume of 105,558 shares, compared to its average volume of 2,028,964. The stock has a 50 day simple moving average of $99.04. Prudential Financial has a 52-week low of $75.61 and a 52-week high of $106.64. The firm has a market capitalization of $41.71 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, May 28th were paid a $1.00 dividend. The ex-dividend date was Friday, May 24th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.96%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.22%.
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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