Prudential Financial Q3 2024 Earnings Preview: Growth Prospects Are Limited

Summary:

• Prudential Financial is expected to report positive Q3 2024 performance, but growth prospects are limited and shares are not undervalued.
• Revenue growth driven by individual retirement sales and positive net flows in asset management, with expected revenues of $14.7 billion.
• Net income anticipated to be $1.2 billion, with a strong ROE of 14%, and a stable dividend yield of 4.1%.
• Shares appear overvalued with a P/E ratio of 8.7x, suggesting limited upside potential despite recent positive performance.

Prudential Financial, Inc. (NYSE:PRU) is expected to report a positive operating performance for Q3 2024 post-market on October 30th, but this seems to be reflected in its valuation and I don’t expect many surprises

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