National Bank Financial Comments on TSE:MFC FY2024 Earnings

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – National Bank Financial increased 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 expects that the financial services provider will post earnings of $3.71 per share for the year, up from their previous estimate 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.

MFC has been the topic of several other reports. Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Jefferies Financial Group boosted their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. National Bankshares boosted their target price on Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their target price on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$39.64.

Manulife Financial Trading Down 0.3 %

MFC stock opened at C$41.89 on Monday. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$23.96 and a 12-month high of C$42.52. The stock has a market cap of C$74.15 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.01 and a beta of 1.06. The business’s 50-day moving average is C$39.18 and its 200 day moving average is C$36.45.

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

Insider Activity

In other news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred 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 sale, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the sale, the director now owns 253 shares of the company’s stock, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. In the last 90 days, insiders have sold 68,821 shares of company stock valued at $2,455,596. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s payout ratio is presently 68.09%.

About Manulife Financial

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.