Is This High-Yield Dividend Stock a Buy?
Economic and geopolitical concerns have proven too much for financial markets to overcome this year. That's why the S&P 500 index is down 21% from all-time highs set in early January.
Prudential Financial (NYSE: PRU) hasn't been entirely spared in the market downturn. But the stock for this asset manager and insurer is only down 14% year to date. This raises the following question: Is Prudential stock a buy at this time? Let's take a look at the stock's fundamentals and valuation to find out.
When Prudential reported its earnings results for the first quarter of 2022 in early May, the company easily surpassed the analyst consensus for non-GAAP (adjusted) diluted earnings per share (EPS). The company recorded $3.17 in after-tax adjusted operating income per share in the quarter, which was down 20.6% over the year-ago period. For more context, this was a 36.6% growth rate over the first quarter of 2020. Prudential's after-tax adjusted operating income per share managed to trounce the average analyst estimate of $2.67 for the quarter. This was the ninth quarter out of the last 10 quarters that Prudential has topped the analyst earnings consensus.
Source Fool.com
