Prudential Earnings: What To Look For From PRU
Financial services giant Prudential Financial (NYSE:PRU) will be reporting results this Tuesday afternoon. Here’s what investors should know.
Prudential beat analysts’ revenue expectations last quarter, reporting revenues of $15.23 billion, up 13.6% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ net premiums earned estimates and a beat of analysts’ EPS estimates.
Is Prudential a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Prudential’s revenue to grow 5.7% year on year, a reversal from the 2.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Prudential has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Prudential’s peers in the life insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. CNO Financial Group delivered year-on-year revenue growth of 5.5%, beating analysts’ expectations by 1.4%, and Lincoln Financial Group reported revenues up 4.2%, topping estimates by 0.8%. CNO Financial Group traded up 3% following the results while Lincoln Financial Group was also up 10.1%.
Read our full analysis of CNO Financial Group’s results here and Lincoln Financial Group’s results here.
Investors in the life insurance segment have had steady hands going into earnings, with share prices flat over the last month. Prudential is up 7.5% during the same time and is heading into earnings with an average analyst price target of $105.87 (compared to the current share price of $122.08).
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