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4-Traders Homepage  >  Equities  >  Nyse  >  Prudential Financial Inc    PRU

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Prudential Financial Inc : Prudential Gives Slightly Cautious Earnings View for Next Year

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11/07/2013 | 05:17pm CET
   By Tess Stynes 
 

Prudential Financial Inc. (PRU) provided a slightly cautious earnings projection for next year ahead of its conference call Thursday to discuss its third-quarter earnings report.

Prudential forecast in a regulatory filing per-share earnings of $8.75 to $9.25 for the coming year, while analysts polled by Thomson Reuters most recently expected per-share profit of $9.09.

The insurer reported late Wednesday swinging to a profit in the latest quarter, as the company benefited from fewer net investment losses and other items.

The insurer recently ended its challenge to federal regulator's efforts to place it under increased oversight. Prudential had fought a decision earlier this year by the Financial Stability Oversight Council designating the company as a nonbank "systemically important financial institution," arguing the company doesn't pose a risk to the financial system.

The "SIFI" designation is an outgrowth of the 2010 Dodd-Frank financial-crisis law. The label brings Prudential under the oversight of the Federal Reserve and could force the Newark, N.J., insurer to keep significantly more capital on hand, among other things. Prudential has said it plans to continue to work with the Fed and other regulators to develop a package of oversight rules that "take into account the differences between insurance companies and banks." U.S.insurers historically have been regulated by state insurance departments.

The company is expected to provide more details about its third-quarter financial results and its 2014 guidance during a conference call set for Thursday at 11 a.m. New York time.

Shares were at $85 recently, up 3.9%. The stock has risen 59% this year.

Write to Tess Stynes at tess.stynes@wsj.com

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Financials ($)
Sales 2016 50 128 M
EBIT 2016 5 505 M
Net income 2016 4 545 M
Debt 2016 -
Yield 2016 2,67%
P/E ratio 2016 9,46
P/E ratio 2017 10,55
Capi. / Sales 2016 0,91x
Capi. / Sales 2017 0,91x
Capitalization 45 404 M
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Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 111 $
Spread / Average Target 5,3%
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Managers
NameTitle
John Robert Strangfeld Chairman, President & Chief Executive Officer
Stephen P. Pelletier Chief Operating Officer-US Business & Executive VP
Charlie F. Lowrey Chief Operating Officer-International & EVP
Robert M. Falzon Chief Financial Officer & Executive Vice President
Barbara G. Koster Chief Information Officer & Senior Vice President
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