Manulife Financial Co. (NYSE:MFC) Forecasted to Earn Q1 2022 Earnings of $0.64 Per Share

Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) – Equities researchers at Desjardins issued their Q1 2022 EPS estimates for Manulife Financial in a research report issued on Wednesday, April 13th. Desjardins analyst D. Young expects that the financial services provider will post earnings of $0.64 per share for the quarter. Desjardins also issued estimates for Manulife Financial’s FY2022 earnings at $2.72 EPS and FY2023 earnings at $3.03 EPS.

MFC has been the topic of several other reports. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, February 3rd. They set an “overweight” rating and a $36.00 price target on the stock. BMO Capital Markets lifted their price objective on shares of Manulife Financial from C$35.00 to C$37.00 in a report on Friday, February 11th. StockNews.com cut shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Thursday. CIBC cut Manulife Financial from a “neutral” rating to a “sector underperform” rating in a research note on Thursday, December 16th. Finally, Zacks Investment Research restated a “hold” rating on shares of Manulife Financial in a report on Thursday, March 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Manulife Financial has an average rating of “Hold” and an average price target of $30.27.

MFC stock opened at $21.36 on Friday. The company has a market cap of $41.20 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Manulife Financial has a 12 month low of $17.66 and a 12 month high of $22.22. The company has a fifty day moving average price of $20.73 and a 200 day moving average price of $20.01.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 9th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The firm had revenue of $17.14 billion for the quarter. During the same period in the prior year, the firm posted $0.57 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 21st. Stockholders of record on Wednesday, February 23rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.87%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 22nd. Manulife Financial’s payout ratio is currently 36.62%.

Hedge funds have recently bought and sold shares of the stock. PSI Advisors LLC bought a new stake in Manulife Financial during the 3rd quarter worth approximately $29,000. Widmann Financial Services Inc. bought a new stake in shares of Manulife Financial during the 4th quarter valued at about $33,000. Allegheny Financial Group LTD bought a new stake in shares of Manulife Financial during the 4th quarter valued at about $34,000. Addison Advisors LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at about $35,000. Finally, Sargent Bickham Lagudis LLC lifted its position in Manulife Financial by 41.0% in the 3rd quarter. Sargent Bickham Lagudis LLC now owns 1,856 shares of the financial services provider’s stock worth $36,000 after buying an additional 540 shares during the last quarter. 46.53% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Company Profile (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Earnings History and Estimates for Manulife Financial (NYSE:MFC)

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