FY2024 EPS Estimate for Manulife Financial Lifted by Analyst

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Stock analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Manulife Financial in a report issued on Thursday, October 24th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $3.71 per share for the year, up from their prior forecast of $3.69. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share. National Bank Financial also issued estimates for Manulife Financial’s Q4 2024 earnings at $0.94 EPS and FY2025 earnings at $4.18 EPS.

A number of other analysts also recently weighed in on the company. National Bankshares increased their price objective on Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Jefferies Financial Group increased their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Scotiabank increased their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. Finally, Barclays set a C$39.00 price target on shares of Manulife Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and a consensus price target of C$39.64.

Manulife Financial Trading Down 0.3 %

Shares of TSE MFC opened at C$41.41 on Monday. The stock has a market cap of C$73.30 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The firm has a 50 day moving average price of C$38.94 and a two-hundred day moving average price of C$36.32. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. Manulife Financial has a 52-week low of C$23.69 and a 52-week high of C$42.52.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The business had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.60 annualized dividend and a yield of 3.86%. Manulife Financial’s payout ratio is currently 68.09%.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now owns 253 shares in the company, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. In other Manulife Financial news, Senior Officer Steve Finch sold 11,599 shares of Manulife Financial stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$414,439.23. Also, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now directly owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. Over the last quarter, insiders sold 68,821 shares of company stock valued at $2,455,596. Company insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.