Q1 2024 EPS Estimates for Manulife Financial Co. (TSE:MFC) Increased by Analyst

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Analysts at Cormark boosted their Q1 2024 earnings per share estimates for shares of Manulife Financial in a research report issued to clients and investors on Thursday, November 9th. Cormark analyst L. Persaud now expects that the financial services provider will earn $0.90 per share for the quarter, up from their prior estimate of $0.89. The consensus estimate for Manulife Financial’s current full-year earnings is $3.60 per share.

Several other analysts also recently commented on MFC. Barclays increased their target price on shares of Manulife Financial from C$31.00 to C$33.00 in a report on Friday, August 11th. CIBC boosted their target price on Manulife Financial from C$27.00 to C$28.00 in a research note on Friday, August 11th. Royal Bank of Canada upped their target price on Manulife Financial from C$30.00 to C$32.00 and gave the company a “sector perform” rating in a report on Friday. Scotiabank dropped their price target on Manulife Financial from C$32.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Finally, Desjardins reduced their price objective on Manulife Financial from C$28.00 to C$27.00 and set a “hold” rating for the company in a research note on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and an average target price of C$29.67.

Manulife Financial Stock Up 0.5 %

Shares of TSE MFC opened at C$25.79 on Friday. The company has a debt-to-equity ratio of 48.26, a current ratio of 126.59 and a quick ratio of 2.58. The company has a 50-day moving average price of C$25.03 and a 200-day moving average price of C$25.32. The stock has a market capitalization of C$46.94 billion, a P/E ratio of 3.85, a P/E/G ratio of 11.85 and a beta of 1.10. Manulife Financial has a 1 year low of C$23.02 and a 1 year high of C$27.50.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, August 9th. The financial services provider reported C$0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.79 by C$0.04. The company had revenue of C$12.09 billion for the quarter, compared to analysts’ expectations of C$15.64 billion. Manulife Financial had a return on equity of 25.43% and a net margin of 65.04%.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.46 dividend on an annualized basis and a yield of 5.66%. Manulife Financial’s payout ratio is 21.79%.

About Manulife Financial

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 offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.