Wall Street analysts predict that Manulife Financial Co. (NYSE:MFC) (TSE:MFC) will post earnings per share of $0.57 for the current quarter, Zacks reports. Zero analysts have provided estimates for Manulife Financial’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.60. Manulife Financial reported earnings per share of $0.38 during the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The firm is expected to report its next earnings report after the market closes on Wednesday, May 5th.
According to Zacks, analysts expect that Manulife Financial will report full year earnings of $2.40 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $2.59. For the next financial year, analysts forecast that the business will report earnings of $2.63 per share, with EPS estimates ranging from $2.60 to $2.71. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Manulife Financial.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Tuesday, February 9th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The company had revenue of $13.71 billion for the quarter. Manulife Financial had a net margin of 7.44% and a return on equity of 11.14%. During the same quarter last year, the company earned $0.73 EPS.
MFC has been the topic of a number of research analyst reports. National Alliance Securities restated a “sector perform” rating on shares of Manulife Financial in a research report on Monday, January 18th. Zacks Investment Research downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research report on Monday, February 1st. Scotiabank increased their price target on shares of Manulife Financial from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, January 29th. Credit Suisse Group increased their price target on shares of Manulife Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. Finally, CIBC downgraded shares of Manulife Financial from an “outperform” rating to a “neutral” rating in a research report on Friday, February 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.83.
Manulife Financial stock traded down $0.20 during midday trading on Thursday, reaching $21.47. 236,165 shares of the company traded hands, compared to its average volume of 3,341,679. The firm has a market capitalization of $41.68 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40. The business has a 50 day moving average of $21.02 and a two-hundred day moving average of $17.78. Manulife Financial has a 12 month low of $10.86 and a 12 month high of $22.25.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Tuesday, February 23rd were given a dividend of $0.2205 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.11%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, February 22nd. Manulife Financial’s dividend payout ratio (DPR) is presently 37.50%.
Several hedge funds have recently made changes to their positions in MFC. Freedman Financial Associates Inc. bought a new stake in shares of Manulife Financial during the 4th quarter valued at $25,000. Riggs Asset Managment Co. Inc. purchased a new position in Manulife Financial during the fourth quarter valued at $26,000. Tompkins Financial Corp purchased a new position in Manulife Financial during the fourth quarter valued at $26,000. Oder Investment Management LLC purchased a new position in Manulife Financial during the fourth quarter valued at $28,000. Finally, Advisory Alpha LLC purchased a new position in Manulife Financial during the third quarter valued at $53,000. Hedge funds and other institutional investors own 47.15% of the company’s stock.
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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