Q2 2018 EPS Estimates for MetLife, Inc. (MET) Reduced by Langen Mcalenn
MetLife, Inc. (NYSE:MET) – Analysts at Langen Mcalenn decreased their Q2 2018 earnings estimates for shares of MetLife in a research note issued to investors on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings of $1.43 per share for the quarter, down from their prior estimate of $1.44. Langen Mcalenn also issued estimates for MetLife’s Q3 2018 earnings at $1.52 EPS, Q4 2018 earnings at $1.53 EPS and FY2018 earnings at $5.90 EPS.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year.
MET has been the subject of several other reports. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reiterated an “outperform” rating and set a $63.00 target price (up from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. Finally, TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.02.
MetLife (MET) traded up 0.31% on Tuesday, hitting $48.68. 1,631,916 shares of the stock traded hands. The firm’s 50-day moving average price is $54.59 and its 200-day moving average price is $53.07. The stock has a market cap of $52.93 billion, a price-to-earnings ratio of 546.97 and a beta of 1.46. MetLife has a 12-month low of $38.87 and a 12-month high of $58.09.
Institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC raised 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 period. Prospera Financial Services Inc bought a new position in MetLife during the first quarter worth $1,525,000. Tompkins Financial Corp raised its position 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. Aberdeen Asset Management PLC UK raised its position in MetLife by 1.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock worth $24,807,000 after buying an additional 6,188 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in MetLife by 4.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 393,208 shares of the financial services provider’s stock worth $20,769,000 after buying an additional 15,716 shares during the period. Institutional investors and hedge funds own 74.83% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s payout ratio is currently 1,777.98%.
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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