Brighthouse Financial (NASDAQ:BHF) Releases Quarterly Earnings Results, Misses Expectations By $0.22 EPS

by · The Cerbat Gem

Brighthouse Financial (NASDAQ:BHF – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $4.35 earnings per share for the quarter, missing the consensus estimate of $4.57 by ($0.22), Briefing.com reports. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. During the same period last year, the business posted $4.17 earnings per share. Brighthouse Financial’s quarterly revenue was down 29.4% compared to the same quarter last year.

Brighthouse Financial Stock Up 0.2%

Shares of BHF traded up $0.13 during midday trading on Thursday, reaching $61.42. 323,281 shares of the stock were exchanged, compared to its average volume of 460,737. Brighthouse Financial has a 12-month low of $42.07 and a 12-month high of $66.33. The firm has a 50 day simple moving average of $60.88 and a 200-day simple moving average of $62.39. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -20.61 and a beta of 0.87.

Institutional Investors Weigh In On Brighthouse Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of Brighthouse Financial by 442.5% during the 4th quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock valued at $28,000 after acquiring an additional 354 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Brighthouse Financial by 66.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares during the last quarter. Danske Bank A S acquired a new position in shares of Brighthouse Financial during the 3rd quarter valued at about $37,000. Jones Financial Companies Lllp increased its holdings in shares of Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after acquiring an additional 735 shares during the last quarter. Finally, Meteora Capital LLC acquired a new position in shares of Brighthouse Financial during the 4th quarter valued at about $65,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BHF. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Brighthouse Financial in a research note on Thursday, March 26th. Zacks Research downgraded Brighthouse Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. Argus raised Brighthouse Financial to a “hold” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings downgraded Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday. Seven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $60.86.

View Our Latest Research Report on BHF

Brighthouse Financial Company Profile

(Get Free Report)

Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.

The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.

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