Zacks: Brokerages Expect Brighthouse Financial Inc (NASDAQ:BHF) Will Announce Earnings of $2.26 Per Share

Wall Street brokerages expect Brighthouse Financial Inc (NASDAQ:BHF) to announce earnings of $2.26 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Brighthouse Financial’s earnings. The highest EPS estimate is $2.33 and the lowest is $2.10. Brighthouse Financial posted earnings per share of $2.23 during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The firm is expected to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Brighthouse Financial will report full year earnings of $8.64 per share for the current fiscal year, with EPS estimates ranging from $8.45 to $8.82. For the next financial year, analysts anticipate that the firm will report earnings of $9.91 per share, with EPS estimates ranging from $9.75 to $10.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Brighthouse Financial.

Brighthouse Financial (NASDAQ:BHF) last issued its earnings results on Monday, August 5th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.33. Brighthouse Financial had a return on equity of 6.74% and a net margin of 9.61%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $1.68 EPS.

A number of analysts have issued reports on the company. Morgan Stanley reduced their price objective on Brighthouse Financial from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Citigroup set a $36.00 price objective on Brighthouse Financial and gave the stock a “sell” rating in a research note on Thursday, May 23rd. Wells Fargo & Co reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Brighthouse Financial in a research note on Tuesday, May 7th. Bank of America reduced their price objective on Brighthouse Financial from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Goldman Sachs Group downgraded Brighthouse Financial from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $39.00 to $32.00 in a research note on Tuesday, June 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.11.

NASDAQ:BHF traded up $1.67 during trading hours on Friday, reaching $35.49. The stock had a trading volume of 311,133 shares, compared to its average volume of 958,905. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.52 and a current ratio of 0.52. Brighthouse Financial has a 52 week low of $28.52 and a 52 week high of $47.33. The company has a 50 day moving average price of $36.83 and a two-hundred day moving average price of $38.27. The stock has a market capitalization of $3.77 billion, a PE ratio of 4.77, a PEG ratio of 0.36 and a beta of 2.04.

In other Brighthouse Financial news, EVP Myles Lambert acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $34.18 per share, for a total transaction of $102,540.00. Following the acquisition, the executive vice president now directly owns 16,942 shares in the company, valued at $579,077.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric T. Steigerwalt acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $34.04 per share, with a total value of $425,500.00. Following the acquisition, the insider now owns 111,239 shares in the company, valued at $3,786,575.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 18,441 shares of company stock valued at $628,269. 0.23% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Brighthouse Financial by 387.3% in the 1st quarter. Signaturefd LLC now owns 731 shares of the company’s stock worth $27,000 after buying an additional 581 shares during the period. Arrow Financial Corp purchased a new stake in shares of Brighthouse Financial in the 1st quarter worth $36,000. Strs Ohio lifted its holdings in shares of Brighthouse Financial by 34.6% in the 1st quarter. Strs Ohio now owns 1,440 shares of the company’s stock worth $52,000 after buying an additional 370 shares during the period. Ossiam purchased a new stake in shares of Brighthouse Financial in the 2nd quarter worth $60,000. Finally, Ayalon Holdings Ltd. purchased a new stake in shares of Brighthouse Financial during the 2nd quarter worth $64,000. Institutional investors own 87.39% of the company’s stock.

Brighthouse Financial Company Profile

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 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.

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