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Market Update (NYSE:MET): MetLife and New York State Common Retirement Fund Form Real Estate Investment Venture

[ Business Wire] – MetLife, Inc. announced today that it has formed a real estate investment venture with New York State Common Retirement Fund, the third largest public pension fund in the U.S. Read more on this. MetLife, Inc. (MET) , valued at $47.51B, opened this morning at $43.86. During today’s session, MET traded between $42.34 to $44.08 with its 52-week range being $40.97 to $58.23. MET shares are currently priced at 8.67x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 13.30x forward p/e ratio. And for passive income investors, the company pays shareholders $1.50 per share annually in dividends, yielding 3.45%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.37 per share, which would be $0.01 worse than the year-ago quarter and a $0.11 sequential decrease. The full-year EPS estimate is $5.02, which would be a $0.72 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.61 Billion. If reported, that would be a 3.45% decrease over the year-ago quarter. More recently, Macquarie upgraded MET from Neutral to Outperform (Jan 14, 2016). Previously, Citigroup downgraded MET from Buy to Neutral. The average price target for MET shares by the analysts covering it is $56.36, which is 28.50% above where the stock opened. See more in (NYSE:MET) Similar Articles: Company Update (NYSE:MET): MetLife Declares First Quarter 2016 Common Stock Dividend Market Update: MetLife Inc (NYSE:MET) – MetLife is First U.S. Insurer to Adopt Carbon Neutrality Market Update: MetLife Inc (NYSE:MET) – MetLife Introduces QLAC for Qualified Individual Retirement Accounts
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