Brighthouse Financial (BHF) Shares Gap Down After Earnings Miss
Shares of Brighthouse Financial Inc (NASDAQ:BHF) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $63.45, but opened at $58.23. Brighthouse Financial shares last traded at $53.56, with a volume of 2325689 shares changing hands.
The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.73). The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.01 billion. Brighthouse Financial’s revenue for the quarter was up 240.0% compared to the same quarter last year.
Several analysts recently issued reports on the stock. B. Riley restated a “neutral” rating on shares of Brighthouse Financial in a research report on Monday, November 6th. Wells Fargo & Co set a $64.00 target price on shares of Brighthouse Financial and gave the company a “hold” rating in a research report on Monday. Deutsche Bank assumed coverage on shares of Brighthouse Financial in a research report on Tuesday, January 2nd. They set a “buy” rating and a $70.00 target price for the company. Goldman Sachs Group assumed coverage on shares of Brighthouse Financial in a research report on Wednesday, October 18th. They set a “neutral” rating and a $63.00 target price for the company. Finally, ValuEngine lowered shares of Brighthouse Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $66.53.
Brighthouse Financial Company Profile
Brighthouse Financial, Inc is a provider of life insurance and annuity products in the United States. The Company offers a range of products and services, which include variable, fixed, index-linked and income annuities, as well as variable, universal, term and whole life products. These products and services are marketed through various third party retail distribution channels in the United States.
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