Cormark Decreases Earnings Estimates for Manulife Financial

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities research analysts at Cormark reduced their FY2024 earnings estimates for shares of Manulife Financial in a research note issued to investors on Tuesday, February 4th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $3.78 per share for the year, down from their previous forecast of $3.79. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share. Cormark also issued estimates for Manulife Financial’s Q4 2024 earnings at $0.94 EPS and FY2025 earnings at $4.13 EPS.

Several other analysts have also recently weighed in on the stock. TD Securities raised their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. National Bankshares raised their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Scotiabank raised their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. CIBC raised their price objective on shares of Manulife Financial from C$46.00 to C$47.00 in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.55.

Manulife Financial Stock Performance

TSE MFC opened at C$43.06 on Thursday. The company’s 50 day simple moving average is C$44.02 and its two-hundred day simple moving average is C$41.04. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The stock has a market capitalization of C$76.22 billion, a PE ratio of 18.32, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 1 year low of C$29.82 and a 1 year high of C$46.42.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. During the same period in the previous year, the firm posted $0.92 EPS.

Insiders Place Their Bets

In other news, Director Kenneth Michael Ross sold 4,243 shares of Manulife Financial stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82. Also, Director Anthony Alex Silva sold 1,000 shares of Manulife Financial stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70. Insiders have sold a total of 77,771 shares of company stock valued at $3,508,584 in the last quarter. Insiders own 0.03% of the company’s stock.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Manulife Financial Company Profile

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 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.