National Bank Financial Comments on TSE:MFC FY2024 Earnings

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Investment analysts at National Bank Financial increased their FY2024 EPS estimates for Manulife Financial in a research note issued to investors on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings per share of $3.82 for the year, up from their previous estimate of $3.80. 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 $0.97 EPS and FY2026 earnings at $4.66 EPS.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised their price objective on shares of 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. CIBC raised their price target on shares of Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. National Bankshares upped their price objective on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. TD Securities increased their target price on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Cormark boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$44.09.

Manulife Financial Trading Up 0.9 %

TSE MFC opened at C$44.37 on Thursday. The stock’s fifty day moving average price is C$44.48 and its 200-day moving average price is C$40.24. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$78.53 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$28.06 and a 12 month high of C$46.42.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 68.09%.

Insider Buying and Selling

In other Manulife Financial news, Director Brooks Tingle sold 3,866 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total transaction of C$178,102.75. Also, Senior Officer James D. Gallagher sold 57,064 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. In the last quarter, insiders sold 77,771 shares of company stock valued at $3,508,584. 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.