Brighthouse Financial Inc (BHF) to Post FY2019 Earnings of $9.10 Per Share, B. Riley Forecasts

Brighthouse Financial Inc (NASDAQ:BHF) – Equities researchers at B. Riley cut their FY2019 earnings per share (EPS) estimates for shares of Brighthouse Financial in a report issued on Tuesday, August 7th, Zacks Investment Research reports. B. Riley analyst R. Binner now anticipates that the company will post earnings of $9.10 per share for the year, down from their previous forecast of $9.40. B. Riley has a “Neutral” rating and a $49.00 price objective on the stock. B. Riley also issued estimates for Brighthouse Financial’s FY2020 earnings at $9.95 EPS.

Brighthouse Financial (NASDAQ:BHF) last announced its quarterly earnings results on Monday, August 6th. The company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.96 by ($0.69). The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.05 billion. Brighthouse Financial had a negative net margin of 7.88% and a positive return on equity of 5.58%. Brighthouse Financial’s quarterly revenue was down .7% compared to the same quarter last year.

Several other brokerages also recently weighed in on BHF. Zacks Investment Research raised shares of Brighthouse Financial from a “sell” rating to a “hold” rating in a research report on Monday, May 21st. ValuEngine downgraded shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Wells Fargo & Co reduced their price target on shares of Brighthouse Financial from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, June 19th. They noted that the move was a valuation call. Morgan Stanley reduced their price target on shares of Brighthouse Financial from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Finally, Citigroup raised shares of Brighthouse Financial from a “sell” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Thursday, June 21st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. Brighthouse Financial has a consensus rating of “Hold” and an average price target of $57.93.

Shares of BHF traded up $0.10 on Wednesday, hitting $41.51. 605,200 shares of the stock traded hands, compared to its average volume of 1,114,376. The company has a market capitalization of $5.08 billion and a P/E ratio of 6.57. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.27. Brighthouse Financial has a one year low of $39.24 and a one year high of $67.55.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Brighthouse Financial during the 1st quarter worth $351,396,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Brighthouse Financial during the 1st quarter worth $189,335,000. JPMorgan Chase & Co. purchased a new position in shares of Brighthouse Financial during the 1st quarter worth $117,441,000. EJF Capital LLC boosted its stake in shares of Brighthouse Financial by 157.7% during the 2nd quarter. EJF Capital LLC now owns 1,262,500 shares of the company’s stock worth $50,588,000 after acquiring an additional 772,500 shares during the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Brighthouse Financial during the 1st quarter worth $51,372,000. Institutional investors own 87.43% of the company’s stock.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It offers 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; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.

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