MetLife (MET) to Release Earnings on Wednesday

MetLife (NYSE:MET) will be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $2.23 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. During the same quarter last year, the firm posted $1.94 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect MetLife to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

MetLife Stock Up 0.8 %

Shares of MET stock opened at $83.07 on Tuesday. The company has a 50 day simple moving average of $80.00 and a two-hundred day simple moving average of $74.60. The stock has a market cap of $59.07 billion, a P/E ratio of 28.55, a P/E/G ratio of 0.70 and a beta of 1.04. MetLife has a 12 month low of $58.48 and a 12 month high of $86.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 74.91%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MET. Piper Sandler lifted their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Citigroup upped their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on shares of MetLife from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen started coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target for the company. Finally, StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and an average price target of $88.46.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.