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Company Update (NYSE:PRU): Prudential Financial, Inc. Announces Early Results of Tender Offer for Certain Outstanding Debt Securities

[Business Wire] – Prudential Financial, Inc. announced today that, pursuant to its previously announced cash tender offer for 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 , approximately $991 million in aggregate principal amount … Read more on this. Prudential Financial, Inc. (PRU) , currently valued at $31.05B, opened this morning at $70.85. During the trading session, PRU traded between $70.04 to $71.03 with a trailing 52-week range being $57.19 to $92.60. Priced at 7.52x this year’s forecasted earnings, PRU shares are relatively inexpensive compared to the industry’s 16.80x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.80 per share annually in dividends, yielding 3.81%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $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 $9.55, which would be a $0.49 better than last year. 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. The average price target for PRU shares by the analysts covering the stock is $85.27, which is 20.35% above where the stock opened this morning. See more in (NYSE:PRU) Similar Articles: Market Update: Prudential Financial Inc (NYSE:PRU) – Prudential Financial, Inc. Announces Tender Offer for Certain Outstanding Debt Securities 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
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