Q1 2023 Earnings Forecast for Manulife Financial Co. (TSE:MFC) Issued By National Bank Financial

Manulife Financial Co. (TSE:MFC – Get Rating) (NYSE:MFC) – Analysts at National Bank Financial increased their Q1 2023 earnings per share (EPS) estimates for Manulife Financial in a research note issued on Thursday, May 11th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $0.79 per share for the quarter, up from their previous forecast of $0.76. The consensus estimate for Manulife Financial’s current full-year earnings is $3.42 per share. National Bank Financial also issued estimates for Manulife Financial’s Q3 2023 earnings at $0.80 EPS and Q4 2023 earnings at $0.80 EPS.

Manulife Financial (TSE:MFC – Get Rating) (NYSE:MFC) last released its earnings results on Wednesday, February 15th. The financial services provider reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.81 by C$0.07. Manulife Financial had a net margin of 47.00% and a return on equity of 12.46%. The firm had revenue of C$15.40 billion during the quarter.

MFC has been the subject of several other research reports. CSFB upped their price target on shares of Manulife Financial from C$27.00 to C$28.00 in a research report on Friday, February 17th. Cormark lifted their price objective on shares of Manulife Financial from C$25.00 to C$27.00 in a research note on Monday, January 23rd. Royal Bank of Canada raised their target price on shares of Manulife Financial from C$28.00 to C$30.00 in a report on Friday. Barclays raised their target price on shares of Manulife Financial from C$30.00 to C$31.00 in a report on Monday, February 27th. Finally, TD Securities lifted their price objective on shares of Manulife Financial from C$34.00 to C$35.00 in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$28.05.

Manulife Financial Stock Down 2.3 %

MFC opened at C$25.58 on Friday. The stock has a market cap of C$47.32 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 12.96 and a beta of 1.12. Manulife Financial has a fifty-two week low of C$20.81 and a fifty-two week high of C$27.50. The company has a debt-to-equity ratio of 43.99, a quick ratio of 2.58 and a current ratio of 4.70. The firm’s fifty day moving average is C$25.62 and its 200 day moving average is C$25.03.

Insider Activity

In other news, Director Donald Richard Lindsay purchased 50,000 shares of Manulife Financial stock in a transaction dated Thursday, March 9th. The stock was bought at an average price of C$26.64 per share, with a total value of C$1,332,005.00. In related news, Director Marianne Harrison sold 36,995 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of C$26.78, for a total value of C$990,607.72. Also, Director Donald Richard Lindsay bought 50,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were bought at an average cost of C$26.64 per share, with a total value of C$1,332,005.00. Insiders own 0.03% of the company’s stock.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 19th. Shareholders of record on Monday, June 19th will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $1.46 dividend on an annualized basis and a yield of 5.71%. Manulife Financial’s dividend payout ratio (DPR) is 39.67%.

Manulife Financial Company Profile

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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.