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Expectations have dropped for Prudential Financial’s (PRU) third quarter results in the month leading up to the company’s earnings announcement on Wednesday, November 2, 2011. The consensus analyst estimate has dropped from $1.62 a share to the current estimate of earnings of $1.57 a share.
What to Expect:
The consensus estimate has dipped over the past three months from $1.69. For the fiscal year, analysts are expecting earnings of $6.70 per share.
Revenue is projected to be $10.13 billion for the quarter, 1.7% above the year-earlier total of $9.96 billion. Revenue is projected to roll in at $39.6 billion for the year.
Analyst Ratings:
The majority of analysts (94.4%) rate Prudential as a buy. This compares favorably to the analyst ratings of its nearest 10 competitors, which average 61.6% buys. Analyst sentiment has been waning recently, as the number of buy ratings has dropped slightly over the past three months.
Trends to Watch For:
For three straight quarters, the company has reported falling net income. Net income fell 22.2% in the second quarter. Going back two quarters, profit decreased 12.8% in the first quarter and 90.5% in the fourth quarter of the last fiscal year.
The company’s revenue has risen for two straight quarters. In second quarter, revenue increased 10.8% to $12.25 billion from the year earlier quarter. In the first quarter, the figure rose 9.6%.
Dividends:
Prudential’s current dividend yield is 2.0% based on Thursday’s close of $56.38. The company has an annualized dividend of $1.15 per share.
Competitors:
Prudential Financial offers various financial products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management. Prudential’s main competitor in the insurance industry is MetLife (MET). Other competitors in the financials sector include: ING Groep N.V (ING), Prudential plc (PUK), and Lincoln National (LNC).
Recent Price Movement:
The stock price has fallen 1.5% to $57.32 from $58.21 since August 1, 2011.
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source:forbes.com
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