MetLife (MET) Set to Announce Quarterly Earnings on Wednesday

MetLife (NYSE:MET) will be issuing its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $2.13 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The business had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. During the same period in the prior year, the company posted $1.52 EPS. The business’s revenue for the quarter was up 5.5% 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 Trading Down 0.7 %

Shares of MET stock opened at $75.50 on Tuesday. The firm has a market capitalization of $53.69 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a 1 year low of $57.91 and a 1 year high of $76.90. The stock has a fifty day moving average of $71.73 and a two-hundred day moving average of $71.06.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.89%. The ex-dividend date is Tuesday, August 6th. MetLife’s payout ratio is currently 74.91%.

MetLife declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup boosted 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. Piper Sandler lowered their price target on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. JPMorgan Chase & Co. upped their price objective on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods lowered their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and an average price target of $81.08.

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.