Q3 2024 EPS Estimates for Manulife Financial Co. Increased by Analyst (TSE:MFC)

Manulife Financial Co. (TSE:MFCFree Report) (NYSE:MFC) – Stock analysts at Desjardins upped their Q3 2024 earnings estimates for shares of Manulife Financial in a note issued to investors on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings of $0.96 per share for the quarter, up from their prior forecast of $0.95. The consensus estimate for Manulife Financial’s current full-year earnings is $4.00 per share. Desjardins also issued estimates for Manulife Financial’s FY2024 earnings at $3.75 EPS and FY2026 earnings at $4.35 EPS.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.88 by C$0.03. The company had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%.

MFC has been the subject of a number of other reports. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. National Bankshares boosted their target price on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group decreased their target price on Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. Finally, Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$39.18.

Read Our Latest Stock Report on Manulife Financial

Manulife Financial Stock Up 1.1 %

Shares of Manulife Financial stock opened at C$41.82 on Friday. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$42.03. The firm has a market capitalization of C$74.02 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 12.56 and a beta of 1.05. The stock’s fifty day moving average is C$37.62 and its 200-day moving average is C$35.77.

Insider Activity at Manulife Financial

In other news, Director Rocco Gori sold 48,345 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Director Rocco Gori sold 48,345 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. In the last 90 days, insiders sold 68,821 shares of company stock valued at $2,455,596. Insiders own 0.03% of the company’s stock.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.60 annualized dividend and a dividend yield of 3.83%. Manulife Financial’s dividend payout ratio (DPR) is 68.09%.

Manulife Financial Company Profile

(Get 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 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.

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

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