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With a market cap of $44.7 billion, Prudential Financial, Inc. (PRU) operates in the financial services sector, offering life insurance, annuities, investment management, and retirement services to customers worldwide. The New Jersey-based company is gearing up to release its fiscal Q2 earnings results after the market closes on Thursday, Aug. 1.
Ahead of this event, analysts expect the financial services company to report a profit of $3.43 per share, up 16.7% from $2.94 per share recorded in the same quarter last year. The company has surpassed Wall Street's bottom-line estimates in one of the past four quarters while missing on three other occasions. In the most recent quarter, the company reported an EPS of $3.12, missing the consensus EPS estimate by 1.3%.
For fiscal 2024, analysts foresee PRU to report an EPS of $13.38, up 15.2% from $11.62 in fiscal 2023. Looking forward to fiscal 2025, the company’s EPS is projected to grow another 8.5% annually to $14.51.
Shares of Prudential Financial have gained 31.5% over the past 52 weeks, outpacing both the S&P 500 Index's ($SPX) 22.7% increase and the S&P 500 Financials Sector SPDR's (XLF) 22.3% return over the same period.
Shares of Prudential Financial fell 1.3% on Apr. 30 after its Q1 earnings result, primarily due to the company's non-GAAP earnings missing Wall Street expectations despite showing improvement from the previous quarter and year-ago period. In addition, the increased benefits and expenses likely contributed to the adverse market reaction.
Overall, analysts' consensus view on Prudential Financial stock is cautious, with a "Hold" rating. Out of 15 analysts covering the stock, one recommends a "Strong Buy," 10 give a "Hold" rating, and four suggest "Strong Sell."
The above consensus is slightly more bullish than three months ago when there was no "Strong Buy" rating on the stock. Currently, PRU stock is trading above the average analyst price target of $117.92.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
