Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06, Zacks reports. Manulife Financial had a net margin of 10.28% and a return on equity of 16.90%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $7.67 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share.
Manulife Financial Stock Down 1.9%
Shares of MFC stock traded down $0.81 on Friday, reaching $43.17. The stock had a trading volume of 1,095,158 shares, compared to its average volume of 2,126,789. The firm’s 50-day moving average is $43.75 and its two-hundred day moving average is $40.12. The firm has a market capitalization of $71.42 billion, a price-to-earnings ratio of 17.05 and a beta of 0.86. Manulife Financial has a 12 month low of $32.58 and a 12 month high of $46.19.
Manulife Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Friday, November 20th will be issued a C$0.48 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, November 20th. Manulife Financial’s dividend payout ratio is presently 51.49%.
Analysts Set New Price Targets
MFC has been the topic of several recent analyst reports. Zacks Research upgraded shares of Manulife Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research report on Friday, August 7th. TD Securities restated a “buy” rating on shares of Manulife Financial in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Manulife Financial from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. Finally, Scotiabank lowered Manulife Financial from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus target price of $58.75.
About Manulife Financial
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