Prudential Financial (PRU) Stock Higher in After-Hours Trading Despite Earnings Miss
NEW YORK (TheStreet) -- Prudential Financial (PRU) - Get Report stock is up by 0.34% to $84.70 in after-hours trading on Wednesday, following the release of its 2015 third quarter earnings results after the market close.
The financial services company reported earnings of $2.40 per share for the most recent quarter, up from $2.20 per share for the year ago period.
Revenue declined year over year to $11.08 billion, from $11.77 billion for the 2014 third quarter.
Analysts surveyed by Thomson Reuters had forecast for earnings of $2.42 per share on revenue of $11.2 billion for the most recent quarter.
"Despite volatility in the macro-economic environment and continued interest rate headwinds, our domestic and international businesses continue to produce strong earnings and solid sales and net flows. We produced 12% constant currency sales growth in our International businesses, as well as strong sales growth in our U.S. protection businesses," CEO John Strangfeld said in a statement.
Separately, TheStreet Ratings team rates PRUDENTIAL FINANCIAL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate PRUDENTIAL FINANCIAL INC (PRU) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: PRU
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