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Based in New York, MetLife, Inc. (MET) is a renowned global provider of insurance, annuities, and employee benefit programs. Valued at $56.9 billion by market cap, MetLife is renowned for its robust portfolio of services and commitment to financial security. The company is set to announce its fiscal Q4 earnings results after the market closes on Wednesday, Jan. 29.
Ahead of the event, analysts expect MET to report a profit of $2.17 per share, up 12.4% from $1.93 per share in the year-ago quarter. In the last four quarters, the company has surpassed or matched Wall Street’s bottom-line estimates in two and missed on two other occasions.
For fiscal 2024, analysts expect MET to report EPS of $8.22, up 12.1% from $7.33 in fiscal 2023.
MET stock has surged 19.2% over the past year, underperforming the broader S&P 500 Index's ($SPX) 25.8% gains and the Insurance ETF SPDR’s (KIE) 22.1% returns over the same time frame.
On Dec. 12, MET shares edged up over 3% following the announcement of its ambitious 5-year Frontier Growth strategy. As part of this plan, the company projected generating an impressive $25 billion in free cash flow over the next five years. This strategic initiative aims to enhance operational efficiency, drive sustainable growth, and deliver significant value to shareholders. The positive market response reflects investor confidence in MetLife’s ability to execute its long-term goals and strengthen its financial position.
Furthermore, the consensus opinion on MET stock is very bullish, with an overall “Strong Buy” rating. Out of 17 analysts covering the stock, 12 advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, and three recommend a “Hold.”
MET's average analyst price target is $93.54, indicating a potential upside of 13.9% from the current levels.
