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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Brighthouse Financial, Inc.    BHF

BRIGHTHOUSE FINANCIAL, INC.

(BHF)
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Brighthouse Financial Shares Fall 13% After Ratings Cut

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06/25/2019 | 11:25am EDT

By Dave Sebastian

Brighthouse Financial shares fell more than 13% to $33.10 Tuesday after two investment banks downgraded their ratings of the life-insurance company.

Credit Suisse Group AG (CSGN) deemed Brighthouse Financial underperforming, downgrading it from a neutral rating. Goldman Sachs Group downgraded its ratings to sell from neutral.

Credit Suisse slashed Brighthouse's per-share price target to $22 from $35, while Goldman Sachs cut it to $32 from $39.

Credit Suisse analysts said the stock is expensive given the volatility of its distributable earnings and new accounting pressure. Lower interest rates could reduce the company's distributable earnings from 2019 to 2021 by $1 billion, "though favorable equity markets may have largely offset it," Credit Suisse analysts said in a research note, adding that the condition illustrates Brighthouse's sensitivity to markets compared with its peers.

Changes in accounting standards in 2021 by the Financial Accounting Standards Board, or FASB, could reduce companies' book value, Credit Suisse analysts said.

Goldman tied its downgrade to how weakened distributable earnings present risks to the company's capital plans.

Write to Dave Sebastian at dave.sebastian@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BRIGHTHOUSE FINANCIAL, INC. 3.09% 38.35 Delayed Quote.25.82%
CREDIT SUISSE GROUP AG -0.24% 12.385 Delayed Quote.15.00%
GOLDMAN SACHS GROUP INC 2.54% 219.43 Delayed Quote.31.36%
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Financials (USD)
Sales 2019 8 036 M
EBIT 2019 1 334 M
Net income 2019 -488 M
Debt 2019 500 M
Yield 2019 -
P/E ratio 2019 -7,98x
P/E ratio 2020 7,80x
EV / Sales2019 0,61x
EV / Sales2020 0,60x
Capitalization 4 441 M
Chart BRIGHTHOUSE FINANCIAL, INC.
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Brighthouse Financial, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends BRIGHTHOUSE FINANCIAL, INC
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 38,64  $
Last Close Price 38,35  $
Spread / Highest target 19,9%
Spread / Average Target 0,76%
Spread / Lowest Target -42,6%
EPS Revisions
Managers
NameTitle
Eric Thomas Steigerwalt President, Chief Executive Officer & Director
C. Edward Chaplin Chairman
Conor Murphy Chief Operating Officer & Executive Vice President
Anant Bhalla Chief Financial Officer & Executive Vice President
Patrick J. Shouvlin Independent Director
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