Earnings Preview for MetLife (MET)

MetLife MET is scheduled to report first-quarter 2011 results after the closing bell tomorrow, May 4. Analysts are looking for the insurer to announce that per-share earnings rose 19.8% from a year ago to $1.26. That is up from the consensus estimate of $1.23 some 90 days ago. Analysts also expect to see revenues of $15.9 billion for the quarter, a surge of 21.6% from the same period of last year. New York-based MetLife provides insurance, employee benefits, and financial services to customers across the globe. The company is the largest life insurer in the United States, and it also funds company initiatives, various start-up entities and run-off entities, as well as offering banking services, such as residential mortgage loans and deposit products. Its operating segments include Insurance Products, Retirement Products, Auto & Home and International. So far, analysts anticipate sequential and year-over-year growth of both per-share earnings and revenue in the second quarter. MetLife's earnings have topped consensus estimates in four of the past five quarters. The company attributed strong fourth-quarter results in part to higher premiums and strong sales of annuities in the United States. MetLife has a dividend yield of 1.6% and a price/earnings-to-growth ratio of 0.7. Analysts on average have recommended buying MET for more than 90 days; their current mean price target is $55.44 per share. That gives the stock plenty of room to run from today's opening price of $46.98 per share.