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Market Update (NYSE:MET): MetLife Announces Corporate Governance Enhancement

[Business Wire] – MetLife, Inc. today announced that its board of directors has adopted an amendment to the company’s bylaws that would allow shareholders owning 25 percent or more of the company’s common stock to call a special meeting of shareholders, subject to certain customary conditions. Read more on this. MetLife, Inc. (MET) , valued at $48.81B, started trading this morning at $44.61. Looking at today’s market, MET one day range is $44.22 to $44.95 and has traded between $35.00 and $58.23 over the past 12 months. MET shares are currently priced at 7.79x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.80x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.50 per share annually in dividends, yielding 3.35%. Consensus earnings for the current quarter by the 16 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 $0.05 sequential decrease. The full-year EPS estimate is $5.74, which would be a $0.88 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $17.21 Billion. If realized, that would be a 1.06% increase over the year-ago quarter. Recently, Raymond James upgraded MET from Mkt Perform to Strong Buy (Jan 22, 2016). Previously, Macquarie upgraded MET from Neutral to Outperform. The average price target for MET shares by the analysts covering the stock is $52.29, which is 17.22% above where the stock opened this morning. See more in (NYSE:MET) Similar Articles: Market Update: MetLife Inc (NYSE:MET) – MetLife Announces First Quarter 2016 Preferred Stock Dividend Action, Subject to Final Confirmation Market Update: MetLife Inc (NYSE:MET) – MetLife Recognized as Highest Ranking Insurer for Commitment to Supplier Diversity Market Update: MetLife Inc (NYSE:MET) – MetLife is First U.S. Insurer to Adopt Carbon Neutrality
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