Q1 2024 Earnings Estimate for Manulife Financial Co. Issued By National Bank Financial (TSE:MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Analysts at National Bank Financial increased their Q1 2024 EPS estimates for Manulife Financial in a research note issued to investors on Thursday, April 25th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings of $0.90 per share for the quarter, up from their prior forecast of $0.89. The consensus estimate for Manulife Financial’s current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Manulife Financial’s Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.59 EPS and FY2025 earnings at $3.98 EPS.

Several other research firms have also weighed in on MFC. National Bankshares boosted their target price on shares of Manulife Financial from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and boosted their target price for the company from C$33.00 to C$36.00 in a report on Friday, February 16th. BMO Capital Markets boosted their target price on shares of Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. Finally, CIBC boosted their target price on shares of Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and a consensus target price of C$36.40.

Manulife Financial Stock Down 0.5 %

Shares of TSE MFC opened at C$32.11 on Monday. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$34.05. The stock has a market cap of C$58.12 billion, a PE ratio of 12.30, a P/E/G ratio of 12.56 and a beta of 1.09. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. The company has a 50-day moving average of C$32.56 and a 200 day moving average of C$29.45.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The company had revenue of C$14.92 billion during the quarter, compared to analysts’ expectations of C$10.24 billion.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In related news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. Company insiders own 0.02% of the company’s stock.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a $0.40 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is currently 61.30%.

About Manulife Financial

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.