Metlife’s Buy Rating Reaffirmed at Deutsche Bank (MET)
Metlife (NYSE:MET)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank in a research report issued on Tuesday. They currently have a $65.00 price objective on the stock, down from their previous price objective of $67.00. Deutsche Bank’s price objective would suggest a potential upside of 24.09% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Metlife from $65.00 to $64.00 in a research note on Monday. Separately, analysts at RBC Capital raised their price target on shares of Metlife from $57.00 to $59.00 in a research note on Thursday, July 31st. They now have a “sector perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Metlife in a research note on Tuesday, July 29th. They now have a $58.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Metlife presently has a consensus rating of “Buy” and an average price target of $61.47.
Metlife (NYSE:MET) traded down 0.88% on Tuesday, hitting $51.92. The stock had a trading volume of 1,081,510 shares. Metlife has a 52 week low of $45.52 and a 52 week high of $57.57. The stock’s 50-day moving average is $55.44 and its 200-day moving average is $52.4. The company has a market cap of $58.493 billion and a price-to-earnings ratio of 13.32. Metlife also was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 21,587,224 shares, a drop of 13.6% from the June 30th total of 24,979,043 shares. Based on an average daily volume of 4,705,426 shares, the short-interest ratio is currently 4.6 days. Approximately 2.3% of the company’s stock are short sold.
Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.41 by $0.02. The company had revenue of $17.80 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same quarter last year, the company posted $1.44 earnings per share. Metlife’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Metlife will post $5.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 8th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, August 6th.
MetLife, Inc (NYSE:MET) is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries.
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