Brighthouse Financial (NASDAQ:BHF) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
A number of other research firms have also recently weighed in on BHF. ValuEngine cut shares of Brighthouse Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Bank of America reaffirmed a “neutral” rating and set a $47.00 price objective on shares of Brighthouse Financial in a research report on Wednesday, October 3rd. Wells Fargo & Co lowered their price objective on shares of Brighthouse Financial from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, June 19th. They noted that the move was a valuation call. Morgan Stanley lowered their price objective on shares of Brighthouse Financial from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Finally, Citigroup raised shares of Brighthouse Financial from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Thursday, June 21st. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $56.87.
Brighthouse Financial stock opened at $46.07 on Friday. Brighthouse Financial has a 1-year low of $39.24 and a 1-year high of $67.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market capitalization of $5.30 billion, a PE ratio of 6.86 and a beta of 1.96.
Brighthouse Financial (NASDAQ:BHF) last posted its quarterly earnings results on Monday, August 6th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.69). Brighthouse Financial had a negative net margin of 7.88% and a positive return on equity of 5.58%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Brighthouse Financial’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts forecast that Brighthouse Financial will post 8.23 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in BHF. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new position in Brighthouse Financial during the 1st quarter worth $145,000. Hexavest Inc. purchased a new position in Brighthouse Financial during the 2nd quarter worth $158,000. Envestnet Asset Management Inc. purchased a new position in Brighthouse Financial during the 1st quarter worth $173,000. Ostrum Asset Management purchased a new position in Brighthouse Financial during the 1st quarter worth $187,000. Finally, Thrivent Financial for Lutherans purchased a new position in Brighthouse Financial during the 1st quarter worth $206,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
About Brighthouse Financial
Brighthouse Financial, Inc provides a range of annuity and life insurance products in the United States. The company operates through three segments: Annuities, Life, and Run-off. It offers variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security; and term, whole, universal, and variable life insurance products for policyholders' needs for financial security and protected wealth transfer.
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