MetLife, Inc. (MET) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS
MetLife, Inc. (NYSE:MET) announced its earnings results on Wednesday. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.90 by $0.19, Bloomberg Earnings reports. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. MetLife’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, November 3rd. MetLife’s dividend payout ratio is 1,777.98%.
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A number of research firms have issued reports on MET. Royal Bank Of Canada reissued a “buy” rating and issued a $56.00 price objective on shares of MetLife in a report on Wednesday, September 6th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a “sell” rating in a report on Friday, July 7th. UBS AG reissued a “neutral” rating and issued a $49.00 price objective (down previously from $57.00) on shares of MetLife in a report on Friday, September 1st. ValuEngine downgraded shares of MetLife from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 26th. Finally, J P Morgan Chase & Co began coverage on shares of MetLife in a report on Monday, July 24th. They issued a “hold” rating and a $78.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. MetLife has a consensus rating of “Buy” and a consensus target price of $57.62.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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