MetLife (MET) Stock Climbs in After-Hours Trading as Revenue Tops Estimates

MetLife (MET) stock is gaining in after-hours trading on Wednesday, after the company reported its 2015 third quarter earnings results after the market close.
By Rachel Graf ,

NEW YORK (TheStreet) -- MetLife (MET) - Get Report stock is up by 0.97% to $50.98 in after-hours trading on Wednesday, after the company released its 2015 third quarter financial results after the market close today. 

The insurance company posted earnings of 62 cents per share, lower by 61% from $1.60 per share for the year ago period. 

Revenue increased to $17.97 billion for the most recent quarter, up from $17.92 billion for the 2014 third quarter. 

MetLife had been forecast to report earnings of 76 cents per share on revenue of $17.72 billion for the September ended period by analysts surveyed by Thomson Reuters.

"Macroeconomic factors, including foreign currency, equity markets and interest rates, as well as a previously announced non-cash tax-related charge, negatively impacted MetLife's third quarter results," CEO Steven A. Kandarian said in a statement. "While it was a difficult quarter, we are pleased that we have returned $2.3 billion to shareholders in the first nine months of 2015 , which is roughly half of our normalized operating earnings."


Separately, TheStreet Ratings team rates METLIFE INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate METLIFE INC (MET) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: MET

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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