Prudential’s Estimates Cut at Citigroup; Uncertainty Surrounds December Analyst Meeting(PRU)
Insurance and financial services giant Prudential Financial, Inc.( PRU
The firm said it cut its 2010 and 2011 EPS estimates for PRU to $5.80 and $6.30, respectively. Citigroup cited potential uncertainty regarding the company's annual December analyst meeting for the move, and maintained its "Hold" rating.
Prudential shares were mostly flat in premarket trading Monday.
The Bottom Line
Shares of PRU have a dividend yield of 1.30%, based on Friday's closing stock price of $54.04. The stock has technical support in the $50-$51 price area. If the shares can firm up, we see overhead resistance around the $59-$60 price levels. We would remain on the sidelines for now.
Prudential Financial, Inc.( PRU ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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