Notable News Spotlight: Brighthouse Financial, Inc. (NASDAQ: BHF)

Business News

On 27 Nov 2019, Brighthouse Financial, Inc. (NASDAQ: BHF) spotted trading -6.41% off 52-week high price. On the other end, the stock has been noted 44.78% away from the low price over the last 52-weeks. The stock changed 1.70% to recent value of $41.29. The stock transacted 1572207 shares during most recent day however it has an average volume of 1233.31K shares. The company has 109.22M of outstanding shares and 107.65M shares were floated in the market.

Brighthouse Financial, Inc (BHF) reported recently its financial results for the third quarter ended September 30, 2019.

Third Quarter 2019 Results

The company stated net income accessible to shareholders of $676M in the third quarter of 2019, or $6.06 per diluted share, contrast with a net loss accessible to shareholders of $271M in the third quarter of 2018. The company ended the third quarter of 2019 with ordinary stockholders’ equity (“book value”) of $17.3B, or $158.18 per ordinary share, and book value, not including accumulated other comprehensive income (“AOCI”) of $13.7B, or $125.53 per ordinary share.

For the third quarter of 2019, the company stated an adjusted loss* of $169M, or $1.52 per ordinary share.

The adjusted loss for the quarter reflected $429M after tax of net unfavorable notable items, or $3.85 per ordinary share, including:

  • $442M unfavorable impact related to the yearly actuarial review completed in the third quarter. In addition to other updates, the company lowered its long-term mean reversion interest rate assumption from 4.25% to 3.75%, with no change to the 10-year mean reversion period.
  • $23M tax benefit Because of a revaluation of tax items related to the company’s separation from its former parent company.
  • $10M unfavorable impact as a result of establishment costs related to planned technology and branding expenses associated with the company’s separation from its former parent company.

Its earnings per share (EPS) expected to touch remained 178.40% for this year while earning per share for the next 5-years is expected to reach at 13.39%. BHF has an operating margin of 22.30% while its profit margin remained 17.10% for the last 12 months. The price moved ahead of 2.55% from the mean of 20 days, 5.73% from mean of 50 days SMA and performed 7.75% from mean of 200 days price. Company’s performance for the week was 2.97%, 4.64% for month and YTD performance remained 35.47%.