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Market Update: Prudential Financial Inc (NYSE:PRU) – Prudential Financial, Inc. Announces Tender Offer for Certain Outstanding Debt Securities

[Business Wire] – Prudential Financial, Inc. announced today that it has commenced a tender offer to purchase for cash up to $500 million aggregate principal amount of its 6.100% Medium-Term Notes, Series D, due 2017, 6.000% Medium-Term Notes, Series D, due 2017, 2.300% Medium-Term Notes, Series D, due 2018, and 7.375% Medium-Term Notes, Series D, due 2019 . Read more on this. Prudential Financial, Inc. (PRU) , valued at $34.73B, opened at $78.73. Today, shares have traded between $78.31 and $78.90 per share with its 52-week range being $57.19 to $92.60. PRU shares are currently priced at 8.27x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 16.57x forward p/e ratio. The company pays shareholders $2.80 per share in dividend income per year, for a current yield of 3.53%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $2.51 per share, which would be $0.40 worse than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $9.62 which would be a $0.42 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.58 Billion. If realized, that would be a 7.36% decrease over the year-ago quarter. Recently, BofA/Merrill downgraded PRU from Buy to Neutral (Jan 20, 2016). Previously, Deutsche Bank upgraded PRU from Hold to Buy. Given all the information above, we should disclose to readers that the average price target is $85.27, which is 8.31% above than it opened this morning. See more in (NYSE:PRU) Similar Articles: Company Update: Prudential Financial Inc (NYSE:PRU) – Prudential Retirement to offer Student Loan Genius’ 401(k) feature to clients Company Update: Prudential Financial Inc (NYSE:PRU) – Prudential Financial receives regulatory approval for proposed acquisition of indirect ownership interest in Administradora de Fondos de Pensiones Habitat S.A. in Chile Company Update: Prudential Financial Inc (NYSE:PRU) – New research from Prudential predicts expansion of stable value market
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