Brighthouse Financial, Inc. Forecasted to Earn Q2 2024 Earnings of $4.29 Per Share (NASDAQ:BHF)

Brighthouse Financial, Inc. (NASDAQ:BHFFree Report) – Research analysts at Zacks Research raised their Q2 2024 EPS estimates for Brighthouse Financial in a report released on Tuesday, May 28th. Zacks Research analyst T. De now expects that the company will post earnings per share of $4.29 for the quarter, up from their previous forecast of $4.26. The consensus estimate for Brighthouse Financial’s current full-year earnings is $16.27 per share. Zacks Research also issued estimates for Brighthouse Financial’s Q3 2024 earnings at $4.37 EPS, Q4 2024 earnings at $4.09 EPS, FY2024 earnings at $17.00 EPS, Q1 2025 earnings at $4.52 EPS, Q2 2025 earnings at $4.92 EPS, Q3 2025 earnings at $4.82 EPS, Q4 2025 earnings at $4.94 EPS, FY2025 earnings at $19.20 EPS, Q1 2026 earnings at $5.44 EPS and FY2026 earnings at $22.04 EPS.

Brighthouse Financial (NASDAQ:BHFGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.29. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.14 billion. Brighthouse Financial had a negative net margin of 38.05% and a positive return on equity of 23.49%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.86 EPS.

A number of other research analysts also recently commented on the company. Morgan Stanley downgraded Brighthouse Financial from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective on the stock. in a report on Friday, February 23rd. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $50.00 price objective on shares of Brighthouse Financial in a report on Friday, February 16th. Piper Sandler reduced their price objective on shares of Brighthouse Financial from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, Wells Fargo & Company dropped their target price on shares of Brighthouse Financial from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.29.

View Our Latest Report on Brighthouse Financial

Brighthouse Financial Stock Performance

NASDAQ:BHF opened at $43.58 on Thursday. Brighthouse Financial has a 12 month low of $39.62 and a 12 month high of $56.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $2.71 billion, a PE ratio of -2.29 and a beta of 1.14. The business’s fifty day moving average price is $47.84 and its 200 day moving average price is $49.64.

Insider Activity

In related news, CFO Edward A. Spehar sold 7,125 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $41.91, for a total transaction of $298,608.75. Following the completion of the sale, the chief financial officer now owns 44,765 shares in the company, valued at approximately $1,876,101.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Brighthouse Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHF. Raymond James & Associates increased its stake in Brighthouse Financial by 17.7% in the 3rd quarter. Raymond James & Associates now owns 6,314 shares of the company’s stock valued at $309,000 after buying an additional 949 shares during the period. California Public Employees Retirement System increased its stake in shares of Brighthouse Financial by 1.3% during the third quarter. California Public Employees Retirement System now owns 138,313 shares of the company’s stock worth $6,769,000 after acquiring an additional 1,766 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Brighthouse Financial during the third quarter worth about $1,165,000. Charles Schwab Investment Management Inc. lifted its position in Brighthouse Financial by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 432,763 shares of the company’s stock valued at $21,179,000 after purchasing an additional 15,643 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Brighthouse Financial by 4.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,724 shares of the company’s stock valued at $427,000 after purchasing an additional 403 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Company Profile

(Get Free Report)

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of 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.

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Earnings History and Estimates for Brighthouse Financial (NASDAQ:BHF)

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