Brokers Set Expectations for Manulife Financial Co.’s Q2 2023 Earnings (TSE:MFC)

Manulife Financial Co. (TSE:MFC – Get Rating) (NYSE:MFC) – Equities research analysts at Desjardins issued their Q2 2023 earnings estimates for Manulife Financial in a report issued on Thursday, May 11th. Desjardins analyst D. Young anticipates that the financial services provider will earn $0.81 per share for the quarter. The consensus estimate for Manulife Financial’s current full-year earnings is $3.42 per share. Desjardins also issued estimates for Manulife Financial’s Q3 2023 earnings at $0.82 EPS, Q4 2023 earnings at $0.83 EPS and FY2024 earnings at $3.50 EPS.

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

Other analysts have also recently issued reports about the stock. TD Securities lifted their target price on shares of Manulife Financial from C$34.00 to C$35.00 in a research note on Thursday. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a research note on Friday. National Bankshares lifted their price objective on shares of Manulife Financial from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Thursday, February 16th. 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. Finally, CIBC lifted their price objective on shares of Manulife Financial from C$23.00 to C$27.00 in a research note on Wednesday, January 25th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$28.17.

Manulife Financial Trading Down 2.3 %

TSE MFC opened at C$25.58 on Monday. The company’s 50-day simple moving average is C$25.62 and its two-hundred day simple moving average is C$25.07. The company has a debt-to-equity ratio of 43.99, a quick ratio of 2.58 and a current ratio of 4.70. Manulife Financial has a one year low of C$20.81 and a one year high of C$27.50. The company has a market capitalization 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 19th. Stockholders 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 dividend yield of 5.71%. Manulife Financial’s dividend payout ratio (DPR) is presently 39.67%.

Insider Buying and Selling

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

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.