Manulife Financial Co. to Post Q2 2022 Earnings of $0.80 Per Share, Desjardins Forecasts (TSE:MFC)

Manulife Financial Co. (TSE:MFCGet Rating) (NYSE:MFC) – Equities research analysts at Desjardins issued their Q2 2022 earnings per share (EPS) estimates for shares of Manulife Financial in a research note issued to investors on Thursday, May 12th. Desjardins analyst D. Young anticipates that the financial services provider will post earnings of $0.80 per share for the quarter. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Manulife Financial’s Q3 2022 earnings at $0.84 EPS, Q4 2022 earnings at $0.85 EPS and FY2022 earnings at $3.25 EPS.

A number of other brokerages have also weighed in on MFC. Canaccord Genuity Group lowered shares of Manulife Financial from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$29.50 to C$23.00 in a report on Friday. Barclays decreased their target price on shares of Manulife Financial from C$34.00 to C$33.00 and set an “overweight” rating for the company in a research report on Friday. National Bankshares decreased their target price on shares of Manulife Financial from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Thursday. Scotiabank decreased their target price on shares of Manulife Financial from C$28.00 to C$27.00 in a research report on Friday. Finally, TD Securities decreased their target price on shares of Manulife Financial from C$37.00 to C$34.00 and set an “action list buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$27.88.

Shares of MFC opened at C$22.52 on Monday. The firm has a market capitalization of C$43.34 billion and a PE ratio of 6.36. The company has a debt-to-equity ratio of 34.00, a current ratio of 5.29 and a quick ratio of 2.16. Manulife Financial has a 1-year low of C$21.75 and a 1-year high of C$28.09. The company’s fifty day moving average price is C$25.76 and its 200-day moving average price is C$25.34.

In other news, Senior Officer Steve Finch sold 12,895 shares of Manulife Financial stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of C$26.97, for a total value of C$347,838.76. Following the sale, the insider now directly owns 9,183 shares of the company’s stock, valued at C$247,708.67. Also, Director Michael James Doughty sold 21,246 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of C$26.97, for a total value of C$573,104.48. Following the sale, the director now owns 5,545 shares of the company’s stock, valued at C$149,574.71.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Investors of record on Wednesday, May 25th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 24th. This represents a $1.32 dividend on an annualized basis and a yield of 5.86%. Manulife Financial’s dividend payout ratio is currently 33.05%.

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 (TSE:MFC)

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