Analysts Anticipate MetLife, Inc. (MET) Will Announce Quarterly Sales of $17.09 Billion
Wall Street brokerages forecast that MetLife, Inc. (NYSE:MET) will announce $17.09 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MetLife’s earnings. The highest sales estimate is $17.17 billion and the lowest is $17.02 billion. MetLife reported sales of $17.08 billion in the same quarter last year, which would suggest a positive year over year growth rate of 0.1%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that MetLife will report full year sales of $17.09 billion for the current financial year, with estimates ranging from $64.81 billion to $69.82 billion. For the next fiscal year, analysts anticipate that the business will report sales of $68.77 billion per share, with estimates ranging from $63.55 billion to $72.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover MetLife.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s revenue for the quarter was down 11.7% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $63.00 price target (up from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price target on shares of MetLife in a research report on Wednesday, July 12th. Citigroup Inc. set a $51.00 price target on MetLife and gave the company a “sell” rating in a research report on Friday, July 7th. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. MetLife currently has a consensus rating of “Buy” and a consensus target price of $57.03.
MetLife (MET) traded up 0.13% during mid-day trading on Friday, hitting $54.65. The stock had a trading volume of 3,585,397 shares. The company’s 50 day moving average is $53.79 and its 200-day moving average is $53.02. The stock’s market capitalization is $58.80 billion. MetLife has a 52 week low of $38.87 and a 52 week high of $58.09.
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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is currently -258.06%.
Several institutional investors have recently bought and sold shares of MET. Atria Investments LLC boosted its position in MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock worth $999,000 after buying an additional 488 shares during the last quarter. Prospera Financial Services Inc bought a new stake in MetLife during the first quarter worth $1,525,000. Tompkins Financial Corp raised its stake in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock worth $342,000 after buying an additional 2,258 shares during the period. UBS Asset Management Americas Inc. raised its stake in MetLife by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,148,498 shares of the financial services provider’s stock worth $223,563,000 after buying an additional 140,341 shares during the period. Finally, Brick & Kyle Associates raised its stake in MetLife by 12.9% in the first quarter. Brick & Kyle Associates now owns 8,299 shares of the financial services provider’s stock worth $438,000 after buying an additional 950 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.
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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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