Manulife Financial Co. (NYSE:MFC) to Post Q2 2022 Earnings of $0.60 Per Share, National Bank Financial Forecasts

Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) – Stock analysts at National Bank Financial decreased their Q2 2022 EPS estimates for Manulife Financial in a research report issued to clients and investors on Wednesday, May 11th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $0.60 per share for the quarter, down from their prior forecast of $0.63. National Bank Financial also issued estimates for Manulife Financial’s Q3 2022 earnings at $0.64 EPS, Q4 2022 earnings at $0.65 EPS and FY2022 earnings at $2.49 EPS.

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

Several other research analysts have also recently commented on the stock. Canaccord Genuity Group cut shares of Manulife Financial from a “buy” rating to a “hold” rating in a report on Friday. StockNews.com upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Monday. Barclays started coverage on shares of Manulife Financial in a report on Thursday, February 3rd. They issued an “overweight” rating and a $36.00 target price for the company. TD Securities reduced their price target on shares of Manulife Financial from C$37.00 to C$34.00 in a research report on Thursday. Finally, Zacks Investment Research reissued a “hold” rating on shares of Manulife Financial in a research report on Thursday, March 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.90.

NYSE:MFC opened at $16.76 on Friday. Manulife Financial has a twelve month low of $16.63 and a twelve month high of $22.19. The company has a 50-day moving average of $20.35 and a 200-day moving average of $20.01. The firm has a market cap of $32.33 billion, a price-to-earnings ratio of 4.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.22.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Wednesday, May 25th will be given a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend is Tuesday, May 24th. Manulife Financial’s dividend payout ratio is 27.96%.

Several institutional investors have recently made changes to their positions in the company. Beutel Goodman & Co Ltd. grew its stake in shares of Manulife Financial by 12.5% in the first quarter. Beutel Goodman & Co Ltd. now owns 25,986,356 shares of the financial services provider’s stock worth $554,414,000 after acquiring an additional 2,891,888 shares during the last quarter. Norges Bank acquired a new stake in shares of Manulife Financial in the fourth quarter worth $362,442,000. CIBC Asset Management Inc grew its stake in shares of Manulife Financial by 5.7% in the first quarter. CIBC Asset Management Inc now owns 17,265,085 shares of the financial services provider’s stock worth $368,598,000 after acquiring an additional 934,381 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Manulife Financial by 0.8% in the fourth quarter. 1832 Asset Management L.P. now owns 15,493,231 shares of the financial services provider’s stock worth $297,615,000 after acquiring an additional 116,523 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. grew its stake in shares of Manulife Financial by 3.1% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 13,615,452 shares of the financial services provider’s stock worth $259,881,000 after acquiring an additional 415,275 shares during the last quarter. Institutional investors and hedge funds own 47.04% of the company’s stock.

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.

Further Reading

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

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