Cormark Forecasts Reduced Earnings for Manulife Financial

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Analysts at Cormark dropped their FY2025 earnings estimates for Manulife Financial in a report released on Thursday, May 8th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings of $4.15 per share for the year, down from their previous forecast of $4.16. The consensus estimate for Manulife Financial's current full-year earnings is $3.61 per share.

MFC has been the topic of several other research reports. Barclays reduced their price target on shares of Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. Scotiabank cut their price objective on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada set a C$51.00 price objective on shares of Manulife Financial and gave the stock an "outperform" rating in a report on Tuesday, April 15th. National Bankshares cut their price objective on shares of Manulife Financial from C$50.00 to C$49.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, CIBC cut their price objective on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of C$48.00.

Manulife Financial Stock Performance

Shares of TSE MFC traded up C$0.10 during midday trading on Monday, hitting C$44.38. 12,044,362 shares of the company traded hands, compared to its average volume of 7,249,434. Manulife Financial has a 12-month low of C$32.87 and a 12-month high of C$46.42. The stock has a 50-day moving average price of C$42.12 and a 200 day moving average price of C$43.22. The firm has a market cap of C$77.84 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.76 dividend on an annualized basis and a yield of 3.97%. Manulife Financial's dividend payout ratio (DPR) is 49.79%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$503,646.63. Also, Director Brooks Tingle sold 3,866 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$167,882.21. Insiders have sold a total of 21,298 shares of company stock worth $932,208 over the last quarter. Company insiders own 0.03% of the company's stock.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.