FY2024 EPS Estimates for TSE:MFC Increased by Analyst

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities researchers at National Bank Financial lifted their FY2024 earnings estimates for Manulife Financial in a research note issued to investors on Wednesday, November 6th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $3.80 per share for the year, up from their previous forecast of $3.71. 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 $0.96 EPS and FY2025 earnings at $4.30 EPS.

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

A number of other research firms have also recently commented on MFC. Scotiabank upped their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. CIBC boosted their price target on Manulife Financial from C$42.00 to C$46.00 in a report on Friday. National Bankshares boosted their target price on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$42.27.

Manulife Financial Stock Performance

Shares of TSE:MFC opened at C$44.24 on Friday. The company has a market capitalization of C$78.30 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The firm’s 50 day simple moving average is C$40.15 and its 200 day simple moving average is C$36.98. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. Manulife Financial has a fifty-two week low of C$25.39 and a fifty-two week high of C$45.68.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 3.62%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity at Manulife Financial

In related news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This represents a 0.00 % decrease in their position. In related news, Senior Officer Steve Finch sold 11,599 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$414,439.23. Also, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Insiders sold a total of 68,821 shares of company stock valued at $2,455,596 over the last quarter. 0.03% of the stock is owned by corporate insiders.

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.