Cormark Issues Pessimistic Estimate for MFC Earnings

Key Points

• Cormark has revised down its earnings forecast for Manulife Financial, predicting a decrease in FY2025 earnings estimates from $2.99 to $2.91 per share.
• Manulife Financial has missed earnings expectations for its recent quarter, reporting $0.69 EPS, below the consensus estimate of $0.71.
• The company recently announced an increase in its quarterly dividend to $0.3199 per share, reflecting a 4.2% dividend yield, with the ex-dividend date on August 20th.

Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC - Cormark reduced their FY2025 EPS estimates for Manulife Financial in a research report issued to clients and investors on Thursday, August 7th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $2.91 per share for the year, down from their previous estimate of $2.99. The consensus estimate for Manulife Financial's current full-year earnings is $2.87 per share.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%. The company had revenue of $11.30 billion for the quarter. During the same quarter in the prior year, the firm earned $0.91 EPS.

Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada lowered their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a report on Monday, May 19th.

Manulife Financial Stock Performance

MFC traded up $0.04 on Friday, hitting $30.11. 3,369,849 shares of the company were exchanged, compared to its average volume of 2,010,827. The firm has a market capitalization of $51.14 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.02 and a beta of 1.01. Manulife Financial has a fifty-two week low of $24.77 and a fifty-two week high of $33.07. The business's fifty day moving average is $31.20 and its 200 day moving average is $30.55.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.3199 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's payout ratio is presently 57.14%.

Institutional Investors Weigh In On Manulife Financial

Several institutional investors have recently bought and sold shares of the business. Wealth Alliance LLC grew its stake in Manulife Financial by 1.7% during the second quarter. Wealth Alliance LLC now owns 20,984 shares of the financial services provider's stock worth $671,000 after buying an additional 345 shares during the period. JCIC Asset Management Inc. raised its stake in shares of Manulife Financial by 5.6% during the first quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider's stock valued at $210,000 after purchasing an additional 360 shares during the period. Blair William & Co. IL raised its stake in shares of Manulife Financial by 1.9% during the first quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider's stock valued at $619,000 after purchasing an additional 377 shares during the period. Sachetta LLC raised its stake in shares of Manulife Financial by 15.2% during the second quarter. Sachetta LLC now owns 3,005 shares of the financial services provider's stock valued at $96,000 after purchasing an additional 396 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in shares of Manulife Financial by 2.2% during the second quarter. Apollon Wealth Management LLC now owns 19,059 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 402 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Company Profile

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.