Brighthouse Financial (NASDAQ:BHF) Releases Quarterly Earnings Results, Misses Estimates By $0.41 EPS

Key Points

• Brighthouse Financial missed quarterly earnings expectations: It reported $4.45 in EPS versus the $4.86 consensus estimate, while revenue of $2.10 billion also fell short of the $2.18 billion forecast.
• Shares declined 1.3% to $61.86 following the results. The stock remains near its 52-week high of $66.80, with a market capitalization of approximately $3.55 billion.
• Analyst sentiment remains cautious: Eight analysts rate BHF as a Hold and two as Sell, producing a consensus “Reduce” rating and an average price target of $60.50; institutional investors own 81.24% of the shares.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $4.45 earnings per share for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41), FiscalAI reports. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.18 billion.

Brighthouse Financial Trading Down 1.3%

BHF traded down $0.83 during trading hours on Wednesday, reaching $61.86. The company's stock had a trading volume of 522,511 shares, compared to its average volume of 632,286. Brighthouse Financial has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The stock has a market cap of $3.55 billion, a PE ratio of -20.76 and a beta of 0.87. The business's 50-day moving average is $63.57 and its 200-day moving average is $62.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.91 and a quick ratio of 0.91.

Institutional Trading of Brighthouse Financial

Several institutional investors and hedge funds have recently bought and sold shares of BHF. Mercer Global Advisors Inc. ADV boosted its stake in Brighthouse Financial by 0.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company's stock worth $1,772,000 after buying an additional 183 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Brighthouse Financial by 66.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company's stock worth $31,000 after purchasing an additional 226 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Brighthouse Financial by 1.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,394 shares of the company's stock valued at $976,000 after purchasing an additional 323 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Brighthouse Financial by 442.5% in the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company's stock valued at $28,000 after purchasing an additional 354 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Brighthouse Financial by 81.6% in the fourth quarter. UMB Bank n.a. now owns 1,155 shares of the company's stock valued at $75,000 after purchasing an additional 519 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BHF. Weiss Ratings lowered shares of Brighthouse Financial from a "hold (c)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. Zacks Research raised Brighthouse Financial from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a research report on Sunday, July 12th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $60.50.

About Brighthouse Financial

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company's core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source