Zacks: Analysts Expect MetLife, Inc. (MET) Will Post Earnings of $0.90 Per Share
Analysts predict that MetLife, Inc. (NYSE:MET) will post $0.90 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for MetLife’s earnings. The lowest EPS estimate is $0.86 and the highest is $1.00. MetLife reported earnings per share of $1.28 during the same quarter last year, which suggests a negative year-over-year growth rate of 29.7%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that MetLife will report full-year earnings of $4.21 per share for the current year, with EPS estimates ranging from $4.17 to $4.25. For the next financial year, analysts forecast that the business will post earnings of $4.73 per share, with EPS estimates ranging from $4.61 to $4.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for MetLife.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS.
MET has been the subject of several recent research reports. TheStreet cut shares of MetLife from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub cut shares of MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of MetLife in a research report on Wednesday. They set a “conviction-buy” rating and a $61.00 target price for the company. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $63.00 target price (up previously from $61.00) on shares of MetLife in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned 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 $57.62.
COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Expect MetLife, Inc. (MET) Will Post Earnings of $0.90 Per Share” was posted by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/22/zacks-analysts-expect-metlife-inc-met-will-post-earnings-of-0-90-per-share.html.
A number of hedge funds have recently added to or reduced their stakes in MET. BlackRock Inc. increased its holdings in MetLife by 3,323.3% during the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after purchasing an additional 66,475,603 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in MetLife during the 2nd quarter worth about $183,290,000. Vanguard Group Inc. increased its holdings in MetLife by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after purchasing an additional 1,885,246 shares in the last quarter. TD Asset Management Inc. increased its holdings in MetLife by 47.7% during the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after purchasing an additional 1,679,740 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in MetLife during the 1st quarter worth about $82,954,000. Hedge funds and other institutional investors own 74.22% of the company’s stock.
Shares of MetLife (NYSE MET) traded up 0.57% during trading on Friday, hitting $53.29. The company had a trading volume of 4,300,265 shares. The stock has a market cap of $56.64 billion, a PE ratio of 626.94 and a beta of 1.47. MetLife has a 12-month low of $40.53 and a 12-month high of $53.58. The firm has a 50 day moving average of $50.77 and a 200 day moving average of $48.11.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.