MetLife (NYSE:MET) Posts Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• MetLife reported quarterly EPS of $2.78, edging past the $2.77 consensus, while revenue of $20.52 billion exceeded expectations and rose 18.2% year over year.
• The company cited record adjusted EPS and stronger-than-target underwriting in Group Benefits, and expects full-year Retirement and Income Solutions adjusted earnings slightly above the midpoint of its $1.6 billion–$1.8 billion range.
• MetLife declared a quarterly dividend of $0.5925 per share, equivalent to $2.37 annually and a 2.4% yield.

MetLife (NYSE:MET - Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.01, FiscalAI reports. The business had revenue of $20.52 billion for the quarter, compared to analysts' expectations of $19.86 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share.

MetLife Stock Performance

MET traded down $3.10 during trading hours on Thursday, hitting $99.79. 3,919,571 shares of the stock were exchanged, compared to its average volume of 3,602,567. The stock has a 50-day simple moving average of $98.05 and a 200-day simple moving average of $86.03. MetLife has a 12 month low of $67.33 and a 12 month high of $106.72. The stock has a market cap of $64.21 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife's dividend payout ratio is currently 45.40%.

Wall Street Analysts Forecast Growth

MET has been the topic of several analyst reports. Evercore reaffirmed a "mixed" rating on shares of MetLife in a research note on Monday, August 24th. UBS Group raised their target price on MetLife from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Morgan Stanley upped their target price on MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Wall Street Zen upgraded MetLife from a "hold" rating to a "buy" rating in a research note on Sunday, September 27th. Finally, Mizuho decreased their price target on shares of MetLife from $112.00 to $109.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $105.44.

Trending Headlines about MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife reported Q3 EPS of $2.78, just above the $2.77 consensus, and revenue of $20.52 billion versus $19.86 billion expected—an 18.2% increase from a year earlier. MetLife Q3 results
• Positive Sentiment: Coverage highlighted record adjusted EPS and stronger-than-target underwriting in Group Benefits. MetLife also expects full-year Retirement and Income Solutions adjusted earnings to come in slightly above the midpoint of its $1.6 billion–$1.8 billion range as variable investment income normalizes. MetLife posts record adjusted EPS MetLife outlook
• Neutral Sentiment: MetLife Asia earnings rose 17%, with investment returns and business-volume growth offsetting a dip in sales—an uneven regional picture. MetLife Asia earnings report
• Negative Sentiment: Rising expenses and actuarial adjustments tempered the quarter’s gains. The EPS beat was also narrow, which may have limited the positive reaction to otherwise solid sales and earnings growth. Zacks Q3 analysis

MetLife announced that its board has initiated a stock buyback plan on Wednesday, August 5th that permits the company to buy back $3 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Share buyback plans are often an indication that the company's board believes its stock is undervalued.

MetLife Company Profile

MetLife, Inc NYSE: MET is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.

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