National Bank Financial Analysts Boost Earnings Estimates for Manulife Financial Co. (TSE:MFC)

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Research analysts at National Bank Financial lifted their Q2 2024 earnings estimates for shares of Manulife Financial in a research note issued to investors on Wednesday, May 8th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings per share of $0.88 for the quarter, up from their prior forecast of $0.87. National Bank Financial has a "Outperform Market Weight" rating on the stock. The consensus estimate for Manulife Financial's current full-year earnings is $3.68 per share. National Bank Financial also issued estimates for Manulife Financial's Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.66 EPS and FY2025 earnings at $4.07 EPS.

Several other equities research analysts have also commented on MFC. National Bankshares upgraded shares of Manulife Financial from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$34.00 to C$38.00 in a report on Thursday. Desjardins upgraded shares of Manulife Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from C$29.00 to C$36.00 in a report on Friday, February 16th. Veritas Investment Research reaffirmed a "reduce" rating on shares of Manulife Financial in a research report on Friday, February 16th. Evercore lifted their price objective on shares of Manulife Financial from C$36.00 to C$37.00 in a research report on Friday. Finally, CIBC lifted their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Manulife Financial has an average rating of "Moderate Buy" and a consensus target price of C$37.30.

Manulife Financial Stock Up 1.2 %

Shares of TSE:MFC traded up C$0.41 during trading hours on Friday, hitting C$35.60. The company's stock had a trading volume of 8,964,709 shares, compared to its average volume of 6,185,018. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$35.69. The company has a debt-to-equity ratio of 45.69, a current ratio of 3.79 and a quick ratio of 2.58. The company has a market capitalization of C$64.08 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 12.56 and a beta of 1.09. The firm's fifty day moving average price is C$32.67 and its 200 day moving average price is C$29.80.

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

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is currently 61.30%.

Insider Activity

In other news, Senior Officer Steve Finch sold 10,294 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. In other news, Senior Officer Steve Finch sold 10,294 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the company's 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. Insiders own 0.02% of the company's stock.

About Manulife Financial

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.