Zacks: Analysts Expect Jackson Financial Inc (NYSE:JXN) Will Post Quarterly Sales of $1.75 Billion

Brokerages predict that Jackson Financial Inc (NYSE:JXNGet Rating) will announce $1.75 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Jackson Financial’s earnings. The highest sales estimate is $1.75 billion and the lowest is $1.74 billion. The firm is scheduled to report its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Jackson Financial will report full year sales of $6.91 billion for the current fiscal year, with estimates ranging from $6.86 billion to $6.95 billion. For the next year, analysts anticipate that the business will post sales of $6.96 billion, with estimates ranging from $6.89 billion to $7.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Jackson Financial.

Jackson Financial (NYSE:JXNGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported $7.48 EPS for the quarter, beating the Zacks’ consensus estimate of $5.28 by $2.20. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.80 billion. The company’s quarterly revenue was up 169.7% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Jackson Financial from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 5th. Jefferies Financial Group assumed coverage on shares of Jackson Financial in a research report on Tuesday, January 25th. They set a “buy” rating and a $52.00 price objective on the stock. Zacks Investment Research downgraded shares of Jackson Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 22nd. Finally, Morgan Stanley raised their price target on shares of Jackson Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.67.

In other news, major shareholder Dan Hagan sold 236,083 shares of Jackson Financial stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $38.23, for a total transaction of $9,025,453.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently bought and sold shares of JXN. Apollo Management Holdings L.P. purchased a new position in Jackson Financial during the fourth quarter worth $439,049,000. BlackRock Inc. purchased a new position in Jackson Financial during the third quarter worth $76,744,000. Third Point LLC purchased a new position in Jackson Financial during the third quarter worth $47,115,000. Attestor Ltd purchased a new position in Jackson Financial during the third quarter worth $30,316,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Jackson Financial during the fourth quarter worth $48,618,000. 66.48% of the stock is owned by institutional investors.

NYSE:JXN opened at $43.51 on Friday. The firm’s 50-day moving average price is $42.08 and its 200-day moving average price is $37.62. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.24. Jackson Financial has a 1-year low of $24.03 and a 1-year high of $47.76.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Shareholders of record on Monday, March 14th were paid a dividend of $0.55 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 11th. This represents a $2.20 dividend on an annualized basis and a yield of 5.06%.

Jackson Financial Company Profile (Get Rating)

Jackson Financial Inc is a U.S. retirement services provider with supported by its diverse portfolio of differentiated products. Jackson(R) is the marketing name for Jackson Financial Inc, Jackson National Life Insurance Company(R) and Jackson National Life Insurance Company of New York(R). Jackson Financial Inc is based in LANSING, Mich.

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Earnings History and Estimates for Jackson Financial (NYSE:JXN)

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