trending Market Intelligence /marketintelligence/en/news-insights/trending/hi8mUi03FwpeBTXqD1orXA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

B. Riley FBR cuts Prudential Financial after 'noisy' Q2 results

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did

B. Riley FBR cuts Prudential Financial after 'noisy' Q2 results

B. Riley FBR analyst Randy Binner lowered his call on the shares of Prudential Financial Inc. to "neutral" from "buy" after the company reported its second-quarter financial results.

Binner noted that Prudential Financial's adjusted operating EPS of $3.14 missed his estimate of $3.25 and the $3.23 consensus estimate. The core EPS result was $3.00 after adjusting for one-time items.

"The result was noisy and featured mortality assumption changes, mixed flow results, and expanded guidance disclosures," Binner said.

Taking into consideration the lower EPS run-rate established with Prudential Financial's results for the first half, Binner cut his EPS estimates. For 2019, he set his projected EPS at $12.30, which is below guidance. He also changed his EPS estimates to $13.45 from $13.85 for 2020 and to $14.45 from $15.00 for 2021.

In downgrading Prudential Financial's rating, Binner also considered the reduced visibility EPS outlook given the changes in the asset management, U.S. life and corporate segments of Prudential Financial.

He lowered his price target on the company to $100 from $122.