Q3 2016 EPS Estimates for MetLife Inc. (MET) Lowered by Analyst
MetLife Inc. (NYSE:MET) – Analysts at FBR & Co dropped their Q3 2016 earnings per share estimates for MetLife in a research note issued to investors on Tuesday. FBR & Co analyst R. Binner now anticipates that the brokerage will post earnings of $1.15 per share for the quarter, down from their previous estimate of $1.33. FBR & Co has a “Outperform” rating and a $54.00 price objective on the stock. FBR & Co also issued estimates for MetLife’s FY2016 earnings at $4.50 EPS and FY2017 earnings at $5.50 EPS.
Several other research analysts also recently weighed in on the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of MetLife in a report on Friday, September 23rd. Sandler O’Neill raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Monday, June 27th. TheStreet cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Argus reissued a “buy” rating and set a $54.00 price objective on shares of MetLife in a research note on Wednesday, September 7th. Finally, Deutsche Bank AG cut shares of MetLife from a “buy” rating to a “hold” rating and lowered their price objective for the company from $47.00 to $44.00 in a research note on Wednesday, July 13th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. MetLife presently has a consensus rating of “Buy” and a consensus price target of $51.95.
MetLife (NYSE:MET) traded up 0.310% during mid-day trading on Wednesday, reaching $46.945. The company’s stock had a trading volume of 2,284,843 shares. MetLife has a 1-year low of $35.00 and a 1-year high of $52.45. The stock’s 50 day moving average price is $44.78 and its 200 day moving average price is $43.27. The stock has a market capitalization of $51.59 billion, a P/E ratio of 12.338 and a beta of 1.84.
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MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The business earned $17 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis.
In related news, EVP Maria R. Morris sold 8,800 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total transaction of $396,000.00. Following the sale, the executive vice president now owns 116,409 shares in the company, valued at $5,238,405. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the sale, the executive vice president now owns 109,273 shares in the company, valued at approximately $4,694,368.08. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of MetLife during the second quarter valued at approximately $110,000. ClariVest Asset Management LLC raised its stake in shares of MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock valued at $112,000 after buying an additional 8 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock valued at $115,000 after buying an additional 9 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of MetLife by 51.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,625 shares of the company’s stock valued at $116,000 after buying an additional 892 shares during the last quarter. Finally, First New York Securities LLC NY purchased a new stake in shares of MetLife during the second quarter valued at approximately $119,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.
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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