National Bank Financial Equities Analysts Reduce Earnings Estimates for Manulife Financial Co. (TSE:MFC)

Manulife Financial Co. (TSE:MFCGet Rating) (NYSE:MFC) – Stock analysts at National Bank Financial reduced their Q2 2022 EPS estimates for Manulife Financial in a research note issued to investors on Wednesday, May 11th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.80. National Bank Financial also issued estimates for Manulife Financial’s Q3 2022 earnings at $0.82 EPS, Q4 2022 earnings at $0.83 EPS and FY2022 earnings at $3.19 EPS.

Several other analysts have also recently weighed in on MFC. CIBC cut Manulife Financial from a “buy” rating to a “hold” rating and lowered their price target for the company from C$25.00 to C$23.00 in a report on Friday. Scotiabank lowered their price target on Manulife Financial from C$28.00 to C$27.00 in a report on Friday. Royal Bank of Canada lowered their price target on Manulife Financial from C$29.00 to C$26.00 and set a “sector perform” rating on the stock in a report on Friday. National Bankshares lowered their price target on Manulife Financial from C$28.00 to C$26.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, BMO Capital Markets assumed coverage on Manulife Financial in a report on Thursday. They issued a “hold” rating and a C$27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Manulife Financial currently has a consensus rating of “Hold” and a consensus target price of C$27.88.

Shares of MFC opened at C$22.52 on Friday. The stock’s 50-day simple moving average is C$25.76 and its 200 day simple moving average is C$25.33. Manulife Financial has a 52-week low of C$21.75 and a 52-week high of C$28.09. The stock has a market capitalization of C$43.44 billion and a price-to-earnings ratio of 6.36. The company has a debt-to-equity ratio of 34.00, a quick ratio of 2.16 and a current ratio of 5.29.

Manulife Financial (TSE:MFCGet Rating) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, February 9th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.02. The company had revenue of C$21.61 billion for the quarter.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Investors of record on Wednesday, May 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 24th. This represents a $1.32 annualized dividend and a yield of 5.86%. Manulife Financial’s payout ratio is 33.05%.

In other Manulife Financial news, Senior Officer Steve Finch sold 12,895 shares of the stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of C$26.97, for a total value of C$347,838.76. Following the completion of the sale, the insider now owns 9,183 shares in the company, valued at approximately C$247,708.67. Also, Director Michael James Doughty sold 21,246 shares of the stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of C$26.97, for a total value of C$573,104.48. Following the completion of the sale, the director now owns 5,545 shares of the company’s stock, valued at approximately C$149,574.71.

About Manulife Financial (Get Rating)

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.

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Earnings History and Estimates for Manulife Financial (TSE:MFC)

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