FBR & Co Comments on MetLife, Inc.’s Q3 2017 Earnings (MET)
MetLife, Inc. (NYSE:MET) – Equities research analysts at FBR & Co decreased their Q3 2017 earnings per share (EPS) estimates for MetLife in a research report issued to clients and investors on Tuesday. FBR & Co analyst R. Binner now forecasts that the financial services provider will post earnings per share of $0.92 for the quarter, down from their previous forecast of $1.00. FBR & Co currently has a “Neutral” rating and a $52.00 target price on the stock. FBR & Co also issued estimates for MetLife’s FY2017 earnings at $4.25 EPS, FY2018 earnings at $4.75 EPS and FY2019 earnings at $5.10 EPS.
A number of other research firms also recently issued reports on MET. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 price target on shares of MetLife in a research report on Wednesday, July 12th. Credit Suisse Group reissued a “neutral” rating and set a $53.00 price target (down previously from $64.00) on shares of MetLife in a research report on Monday, August 28th. Morgan Stanley increased their price target on MetLife from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Argus dropped their price target on MetLife from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. MetLife has a consensus rating of “Hold” and a consensus price target of $57.38.
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MetLife (NYSE:MET) opened at 53.14 on Wednesday. MetLife has a 12 month low of $40.30 and a 12 month high of $53.30. The company has a 50 day moving average price of $49.50 and a 200 day moving average price of $47.78. The stock has a market capitalization of $56.48 billion, a price-to-earnings ratio of 625.18 and a beta of 1.47.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Intl Fcstone Inc. purchased a new stake in MetLife in the second quarter valued at about $383,000. Griffin Asset Management Inc. purchased a new stake in MetLife in the second quarter valued at about $2,424,000. Farmers National Bank purchased a new stake in MetLife in the second quarter valued at about $118,000. RNC Capital Management LLC raised its stake in MetLife by 3.9% in the second quarter. RNC Capital Management LLC now owns 427,056 shares of the financial services provider’s stock valued at $23,462,000 after buying an additional 16,100 shares during the last quarter. Finally, Sentry Investment Management LLC raised its stake in MetLife by 0.8% in the second quarter. Sentry Investment Management LLC now owns 82,321 shares of the financial services provider’s stock valued at $4,523,000 after buying an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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