Earnings Preview: MetLife

MetLife (MET) is expected to report Q3 earnings on Thursday, October 29 after the market close with a conference call scheduled for Friday, October 30 at 8 am ET.

Guidance

Analysts are looking for EPS of 87c on revenue of $12.25B. The consensus range is 76c-$1.03 for EPS, and $11.88B-$12.64B for revenue. MetLife investors may be encouraged by the better than expected results reported last week by insurers Travelers (TRV) and Progressive (PGR). In addition, the company should be helped by the improved performance of equity markets in Q3.

Analyst Views

Still, several research firms have been somewhat negative on MetLife and the life insurance sector in recent weeks. On October 13, Credit Suisse downgraded MetLife to Neutral from Outperform. The firm said it doesn't think the company's stock will advance significantly over the next 12 months. Keefe Bruyette downgraded the insurer to Market Perform from Outperform in early October, and Ctiigroup removed the company from its top pick live list on September 25, although it maintained a Buy rating on the stock. Morgan Stanley dropped MetLife to In-Line from Attractive on September 23, citing valuation. On a positive note, a Raymond James analyst last month said that MetLife's outlook is "outstanding." The firm is upbeat on the company due to what it sees as the insurer's strong investment portfolio, a leading brand name, and a substantial capital cushion.

Comments

[pp12000:]

Oops..... how do these geniuses miss a 600 million dollar loss !!!!!!!

Oct 29 11:05 PM