Manulife Financial Co. (TSE:MFC) Forecasted to Earn FY2023 Earnings of $3.25 Per Share

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities research analysts at National Bank Financial issued their FY2023 earnings per share estimates for Manulife Financial in a research report issued to clients and investors on Tuesday, January 11th. National Bank Financial analyst G. Dechaine expects that the financial services provider will post earnings of $3.25 per share for the year.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, November 3rd. The financial services provider reported C$0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.81 by C($0.05). The firm had revenue of C$15.98 billion for the quarter.

MFC has been the topic of a number of other research reports. CSFB lifted their price target on shares of Manulife Financial from C$26.00 to C$28.00 in a research note on Tuesday, November 16th. CIBC cut their price target on Manulife Financial from C$27.00 to C$25.50 and set an “underperform” rating for the company in a report on Thursday, December 16th. TD Securities lifted their price objective on Manulife Financial from C$36.00 to C$37.00 and gave the stock an “action list buy” rating in a research report on Tuesday, November 16th. National Bankshares lifted their price objective on Manulife Financial from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 17th. Finally, Cormark lowered their price objective on Manulife Financial from C$29.00 to C$26.00 and set a “na” rating for the company in a research report on Friday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$35.71.

Shares of MFC stock opened at C$25.98 on Friday. The business’s 50 day moving average is C$24.40 and its two-hundred day moving average is C$24.49. The company has a market cap of C$50.47 billion and a PE ratio of 7.64. The company has a quick ratio of 2.88, a current ratio of 6.02 and a debt-to-equity ratio of 37.33. Manulife Financial has a 12 month low of C$22.76 and a 12 month high of C$27.68.

In other Manulife Financial news, Senior Officer Steve Finch sold 12,896 shares of the business’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of C$24.96, for a total value of C$321,845.47. Following the sale, the insider now directly owns 9,120 shares in the company, valued at C$227,607.84. Also, Director Michael James Doughty sold 21,246 shares of the business’s stock in a transaction on Friday, November 12th. The shares were sold at an average price of C$24.96, for a total value of C$530,236.42. Following the completion of the sale, the director now owns 5,439 shares in the company, valued at C$135,741.12. Insiders sold 34,642 shares of company stock valued at $864,367 in the last three months.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 20th. Shareholders of record on Wednesday, December 1st were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $1.12 dividend on an annualized basis and a yield of 4.31%. Manulife Financial’s dividend payout ratio (DPR) is presently 32.94%.

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 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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