MetLife, Inc. to Post Q2 2017 Earnings of $1.25 Per Share, FBR & Co Forecasts (NYSE:MET)
MetLife, Inc. (NYSE:MET) – Analysts at FBR & Co decreased their Q2 2017 earnings estimates for shares of MetLife in a report issued on Tuesday. FBR & Co analyst R. Binner now expects that the financial services provider will post earnings per share of $1.25 for the quarter, down from their previous estimate of $1.30. FBR & Co currently has a “Outperform” rating and a $58.00 target price on the stock.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.19. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The company had revenue of $16.27 billion during the quarter, compared to analysts’ expectations of $17.02 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year.
A number of other brokerages have also recently commented on MET. Citigroup Inc. set a $51.00 target price on MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $63.00 target price (up from $61.00) on shares of MetLife in a report on Wednesday. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price target on shares of MetLife in a report on Wednesday. BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, J P Morgan Chase & Co decreased their price target on MetLife from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $57.03.
MetLife (NYSE MET) opened at 55.71 on Wednesday. MetLife has a 52-week low of $38.86 and a 52-week high of $58.09. The stock’s market capitalization is $59.94 billion. The company’s 50-day moving average price is $51.91 and its 200 day moving average price is $52.97.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares during the last quarter. Vanguard Group Inc. raised its position in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares during the last quarter. State Street Corp raised its position in shares of MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares during the last quarter. Dodge & Cox purchased a new position in shares of MetLife during the fourth quarter worth $2,212,814,000. Finally, Geode Capital Management LLC raised its position in shares of MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. MetLife’s payout ratio is -258.06%.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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