MetLife (NYSE:MET – Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.15, Briefing.com reports. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The business had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.
MetLife Trading Up 0.1 %
Shares of NYSE MET opened at $76.85 on Thursday. MetLife has a twelve month low of $57.91 and a twelve month high of $77.50. The stock has a market cap of $54.65 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 0.66 and a beta of 1.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average is $71.90 and its 200-day moving average is $71.16.
MetLife Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, August 6th. MetLife’s payout ratio is 74.91%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on MET shares. Keefe, Bruyette & Woods dropped their price objective on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Piper Sandler lowered their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Morgan Stanley upped their price target on shares of MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Argus raised their price objective on shares of MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Finally, Jefferies Financial Group increased their price target on shares of MetLife from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock 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.
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