Brighthouse Financial (NASDAQ:BHF) Releases Quarterly Earnings Results, Misses Estimates By $1.27 EPS

Key Points

• Brighthouse Financial reported a quarterly EPS of $3.43, missing the consensus estimate of $4.70 by $1.27, with revenue of $2.15 billion, below expectations of $2.21 billion.
• The company's return on equity stood at 21.49%, with a net margin of 10.24%, but its revenue decreased by 2.8% compared to the same quarter last year.
• Analyst ratings are mixed, with aims set between $42.00 and $70.00, resulting in a consensus rating of "Hold" and an average price target of $60.67.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) issued its earnings results on Thursday. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $4.70 by ($1.27), Zacks reports. Brighthouse Financial had a return on equity of 21.49% and a net margin of 10.24%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the previous year, the firm earned $5.57 earnings per share. The firm's quarterly revenue was down 2.8% compared to the same quarter last year.

Brighthouse Financial Price Performance

NASDAQ BHF traded down $1.55 during trading on Friday, hitting $44.52. 1,257,147 shares of the stock traded hands, compared to its average volume of 958,450. The company has a market capitalization of $2.56 billion, a P/E ratio of 4.82 and a beta of 0.88. Brighthouse Financial has a 12-month low of $40.00 and a 12-month high of $64.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm has a 50-day simple moving average of $52.81 and a 200-day simple moving average of $55.33.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BHF. Barclays decreased their price objective on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Friday. JPMorgan Chase & Co. upped their price target on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Morgan Stanley cut their price target on Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $60.67.

Insider Buying and Selling

In other Brighthouse Financial news, EVP Vonda Huss sold 3,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $59.51, for a total value of $178,530.00. Following the transaction, the executive vice president owned 18,441 shares of the company's stock, valued at $1,097,423.91. This represents a 13.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BHF. Millennium Management LLC raised its holdings in Brighthouse Financial by 156.2% in the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company's stock worth $15,245,000 after purchasing an additional 160,272 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Brighthouse Financial by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company's stock worth $12,128,000 after acquiring an additional 13,245 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Brighthouse Financial in the 1st quarter valued at approximately $226,000. Finally, Jones Financial Companies Lllp raised its position in Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock worth $48,000 after buying an additional 735 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

About Brighthouse Financial

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.

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