Analyst Backed FY2024 EPS Estimates for Manulife Financial Co. (TSE:MFC)

VaselineAugust 9, 2024

0 3 minutes read

Manulife Financial Co. (TSE:MFC – Free Report) (NYSE:MFC) – Equities researchers at National Bank Financial lifted their FY2024 earnings estimates for shares of Manulife Financial in a research report issued to clients and investors on Wednesday, August 7th. . National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $3.69 per share for the year, up from their prior estimate of $3.66. National Bank Financial has an “Outperform Market Weight” rating on the stock. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share.

MFC has been the subject of several other reports. National Bankshares boosted their price target on Manulife Financial from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price objective on shares of Manulife Financial from $40.00 to $41.00 in a report on Friday, May 10th. Jefferies Financial Group cut their price target on shares of Manulife Financial from $43.00 to $42.00 in a research note on Thursday, July 18th. CIBC upped their target price on shares of Manulife Financial from $34.00 to $36.00 in a research note on Friday, May 10th. Finally, Evercore boosted their price objective on Manulife Financial from $36.00 to $37.00 in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Manulife Financial presently has a consensus rating of “Moderate Buy” and an average price target of $38.45, according to MarketBeat.

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Manulife financial price performance

Shares of MFC stock opened at $34.01 on Friday. Manulife Financial has a 12-month low of $23.69 and a 12-month high of $37.46. The company has a market cap of $61.22 billion, a P/E ratio of 14.92, a P/E/G ratio of 12.56 and a beta of 1.10. The stock has a 50 day moving average of $35.71 and a two hundred day moving average of $33.70. The company has a current ratio of 29.14, a quick ratio of 2.58, and a debt-to-equity ratio of 48.44.

Manulife Financial (TSE:MFC – Get Your Free Report ) (NYSE:MFC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.13 billion. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%.

Manulife Financial announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 21. This represents an annualized dividend of $1.60 and a yield of 4.70%. Manulife Financial’s payout ratio is 70.18%.

Insiders place their bets

In other Manulife Financial news, COO Steve Finch sold 11,598 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $35.29, for a total transaction of $409,293.42. In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $35.25, for a total value of $1,714,560.00. Also, COO Steve Finch sold 11,598 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $35.29, for a total value of $409,293.42. In the last quarter, insiders sold 157,878 shares of company stock worth $5,557,706. 0.02% of shares are currently held by corporate insiders.

About Manulife Financial

(Get a free report)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia and internationally. The Company operates through Wealth and Asset Management Businesses; Insurance and annuity products; and the Corporate and Other segments. The Wealth and Asset Management Business segment provides investment advice and solutions to retirement, retail and institutional clients through multiple distribution channels, including agents and brokers affiliated with the firm, independent securities brokerage firms and financial advisors, plan consultants of pensions and banks.