MetLife (MET) Set to Announce Quarterly Earnings on Wednesday

MetLife (NYSE:MET) will be announcing its earnings results 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 listening to the company’s conference call can do so using this link.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm had revenue of $17.02 billion during the quarter, compared to analysts’ expectations of $17.73 billion. During the same quarter last year, the company posted $1.52 earnings per share. The firm’s revenue 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 Price Performance

NYSE:MET opened at $75.50 on Tuesday. The firm’s fifty day moving average is $71.73 and its two-hundred day moving average is $71.06. The firm has a market cap of $53.69 billion, a price-to-earnings ratio of 25.95, a PEG 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 one year low of $57.91 and a one year high of $76.90.

MetLife declared that its board has initiated a stock repurchase plan on Wednesday, May 1st that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

MetLife Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on MET. Wells Fargo & Company cut their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Keefe, Bruyette & Woods reduced their price target on MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. increased their price target on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group boosted their target price on shares of MetLife from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Piper Sandler cut their price objective on MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.08.

MetLife Company Profile

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.