MetLife, Inc. to Post Q2 2017 Earnings of $1.29 Per Share, Langen Mcalenn Forecasts (NYSE:MET)
MetLife, Inc. (NYSE:MET) – Langen Mcalenn lowered their Q2 2017 earnings per share (EPS) estimates for shares of MetLife in a research note issued on Wednesday. Langen Mcalenn analyst L. Greenberg now expects that the financial services provider will post earnings per share of $1.29 for the quarter, down from their previous forecast of $1.30. Langen Mcalenn also issued estimates for MetLife’s Q4 2017 earnings at $1.38 EPS.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.19. The business had revenue of $16.27 billion for the quarter, compared to analysts’ expectations of $17.02 billion. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share.
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Several other analysts have also recently issued reports on the stock. Wells Fargo & Company reiterated an “outperform” rating and issued a $63.00 target price (up from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Citigroup Inc. set a $51.00 price target on shares of MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. BidaskClub raised shares of MetLife from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $57.03.
MetLife (NYSE:MET) opened at 54.58 on Friday. The company’s market capitalization is $58.72 billion. The company has a 50-day moving average of $53.79 and a 200-day moving average of $53.02. MetLife has a 52 week low of $38.87 and a 52 week high of $58.09.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 2.93%. MetLife’s dividend payout ratio (DPR) is presently -258.06%.
A number of hedge funds and other institutional investors have recently modified their holdings of MET. BlackRock Inc. raised its stake 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 in the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. State Street Corp raised its stake 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 in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Finally, Morgan Stanley raised its stake in shares of MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares in the last quarter. 74.51% of the stock is owned by institutional investors and hedge funds.
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; 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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