Brokers Issue Forecasts for MetLife Inc.’s FY2018 Earnings (MET)
MetLife Inc. (NYSE:MET) – Analysts at FBR & Co issued their FY2018 earnings per share (EPS) estimates for MetLife in a research note issued on Wednesday. FBR & Co analyst R. Binner forecasts that the brokerage will earn $6.00 per share for the year. FBR & Co currently has a “Buy” rating on the stock.
Several other research firms have also weighed in on MET. Argus reissued a “buy” rating and issued a $54.00 target price on shares of MetLife in a research note on Tuesday. Deutsche Bank AG reissued a “hold” rating and issued a $44.00 target price on shares of MetLife in a research note on Saturday, October 8th. Bank of America Corp. set a $51.00 target price on MetLife and gave the company a “buy” rating in a research note on Thursday, October 6th. Credit Suisse Group AG began coverage on MetLife in a research note on Friday, October 7th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $51.00 price target on shares of MetLife in a report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. MetLife has a consensus rating of “Buy” and an average target price of $51.35.
MetLife (NYSE:MET) traded down 0.09% on Thursday, reaching $53.69. The company had a trading volume of 10,845,665 shares. The company has a market capitalization of $59.01 billion, a price-to-earnings ratio of 16.49 and a beta of 1.66. The company’s 50 day moving average price is $46.83 and its 200-day moving average price is $43.75. MetLife has a 12 month low of $35.00 and a 12 month high of $54.98.
MetLife (NYSE:MET) last released its earnings results on Wednesday, November 2nd. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $17.03 billion. MetLife had a return on equity of 6.99% and a net margin of 5.58%. MetLife’s revenue was down 99.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share.
Several hedge funds have recently added to or reduced their stakes in MET. Dodge & Cox boosted its stake in MetLife by 26.4% in the second quarter. Dodge & Cox now owns 39,133,326 shares of the company’s stock valued at $1,558,680,000 after buying an additional 8,185,247 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock valued at $1,530,815,000 after buying an additional 3,530,969 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in MetLife during the second quarter valued at $123,072,000. Bank of Montreal Can purchased a new stake in MetLife during the second quarter valued at $114,322,000. Finally, Svenska Handelsbanken AB publ boosted its stake in MetLife by 83.7% in the third quarter. Svenska Handelsbanken AB publ now owns 4,545,148 shares of the company’s stock valued at $201,941,000 after buying an additional 2,070,652 shares during the last quarter. 74.50% of the stock is owned by institutional investors.
In other news, EVP Frans Hijkoop sold 56,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $51.48, for a total value of $2,895,750.00. Following the completion of the sale, the executive vice president now directly owns 111,813 shares of the company’s stock, valued at $5,756,133.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria R. Morris sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total value of $104,126.00. Following the completion of the sale, the executive vice president now directly owns 109,809 shares of the company’s stock, valued at $5,197,259.97. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 7th will be given a $0.40 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.98%. MetLife’s payout ratio is 49.23%.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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