MetLife, Inc. Expected to Earn Q3 2017 Earnings of $0.92 Per Share (MET)
MetLife, Inc. (NYSE:MET) – Research analysts at FBR & Co cut their Q3 2017 earnings estimates for shares of MetLife in a note issued to investors on Tuesday. FBR & Co analyst R. Binner now expects that the financial services provider will post earnings per share of $0.92 for the quarter, down from their prior estimate of $1.00. FBR & Co currently has a “Neutral” rating and a $52.00 price target on the stock. FBR & Co also issued estimates for MetLife’s FY2017 earnings at $4.25 EPS, FY2018 earnings at $4.75 EPS and FY2019 earnings at $5.10 EPS.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. TRADEMARK VIOLATION NOTICE: This piece of content was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/13/metlife-inc-expected-to-earn-q3-2017-earnings-of-0-92-per-share-met.html.
Several other research analysts also recently commented on MET. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a report on Saturday, July 1st. Citigroup Inc. set a $51.00 price objective on MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of MetLife in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. MetLife presently has an average rating of “Hold” and a consensus price target of $57.38.
Shares of MetLife (NYSE:MET) opened at 52.73 on Wednesday. The stock has a 50 day moving average price of $49.82 and a 200 day moving average price of $47.85. MetLife has a 52 week low of $40.30 and a 52 week high of $53.30. The firm has a market cap of $56.05 billion, a PE ratio of 620.35 and a beta of 1.47.
Hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. grew its holdings in shares of MetLife by 71.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after acquiring an additional 1,529,570 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of MetLife by 5.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock worth $195,348,000 after acquiring an additional 175,311 shares during the period. KBC Group NV grew its holdings in shares of MetLife by 14.3% during the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock worth $69,433,000 after acquiring an additional 157,734 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of MetLife by 7.2% during the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock worth $43,460,000 after acquiring an additional 55,508 shares during the period. Finally, Boston Partners grew its holdings in shares of MetLife by 0.5% during the 2nd quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock worth $110,464,000 after acquiring an additional 9,845 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.
MetLife Company Profile
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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