Stock Update (NYSE:MET): MassMutual Confirms Discussions with MetLife

[PR Newswire] – SPRINGFIELD, Mass., Feb. 25, 2016 /PRNewswire/ — Massachusetts Mutual Life Insurance Company (MassMutual) today confirmed it has entered into discussions with MetLife, Inc. (NYSE: MET) for MassMutual … Read more on this. MetLife, Inc. (MET) , currently valued at $42.29B, started trading this morning at $38.61. Looking at the equity, the company’s one day range is $38.41 to $38.91 and has traded between $35.00 and $58.23 over the past year. MET shares are currently priced at 6.87x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 13.34x earnings multiple for the same period. The company pays shareholders $1.50 per share in dividend income per year, for a current yield of 3.84%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $1.39 per share, which would be $0.05 worse than the year-ago quarter and a $0.07 sequential decrease. The full-year EPS estimate is $5.71 which would be a $0.85 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $17.22 Billion. If realized, that would be a 1.12% increase over the year-ago quarter. In terms of ratings, Raymond James upgraded MET from Mkt Perform to Strong Buy (Jan 22, 2016). Previously, Macquarie upgraded MET from Neutral to Outperform. With the above information in mind, readers should note that the average price target is $53.07, which is 37.45% above where the stock opened this morning. See more in (NYSE:MET) Similar Articles: Stock Update: MetLife Inc (NYSE:MET) – MetLife Executive Vice President & CFO to Speak at Bank of America Merrill Lynch 2016 Insurance Conference Stock Update: MetLife Inc (NYSE:MET) – MetLife Named ‘2015 Best Life Insurance Company in Turkey’ Stock Update: MetLife Inc (NYSE:MET) – A.M. Best Assigns Ratings to MetLife, Inc.’s New Senior Unsecured Notes