Analysts Issue Forecasts for Manulife Financial Co.'s Q1 2024 Earnings (TSE:MFC)

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Equities research analysts at Cormark issued their Q1 2024 earnings estimates for Manulife Financial in a research report issued on Thursday, April 25th. Cormark analyst L. Persaud anticipates that the financial services provider will post earnings of $0.90 per share for the quarter. Cormark currently has a "Buy" rating and a $36.00 target price on the stock. The consensus estimate for Manulife Financial's current full-year earnings is $3.69 per share. Cormark also issued estimates for Manulife Financial's FY2024 earnings at $3.67 EPS and FY2025 earnings at $3.95 EPS.

Other analysts also recently issued reports about the stock. Evercore upped their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a report on Tuesday, February 20th. TD Securities downgraded shares of Manulife Financial from an "action list buy" rating to a "buy" rating and increased their price target for the company from C$35.00 to C$37.00 in a report on Wednesday, February 21st. CIBC increased their price target 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. BMO Capital Markets increased their price target on shares of Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. Finally, National Bankshares increased their price target 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$36.40.

Manulife Financial Stock Up 0.6 %

MFC stock traded up C$0.20 during trading hours on Monday, hitting C$32.27. The company's stock had a trading volume of 8,918,533 shares, compared to its average volume of 6,049,591. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69. The company has a market capitalization of C$58.41 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$34.05. The stock has a 50 day moving average price of C$32.58 and a two-hundred day moving average price of C$29.40.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%.

Insider Buying and Selling

In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction 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. In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction 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 business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$337,231.44. 0.02% of the stock is owned by corporate insiders.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.96%. This is an increase from Manulife Financial's previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, February 27th. Manulife Financial's payout ratio is presently 61.30%.

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.