Cormark Brokers Decrease Earnings Estimates for TSE:MFC

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Investment analysts at Cormark lowered their FY2026 EPS estimates for Manulife Financial in a research note issued on Thursday, August 7th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings of $4.37 per share for the year, down from their previous forecast of $4.55. The consensus estimate for Manulife Financial's current full-year earnings is $3.61 per share.

A number of other equities research analysts also recently issued reports on MFC. CIBC cut their price objective on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays boosted their price objective on shares of Manulife Financial from C$46.00 to C$47.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Jefferies Financial Group reduced their price objective on shares of Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. National Bankshares reduced their price objective on shares of Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$47.75.

Manulife Financial Stock Performance

Shares of MFC stock traded down C$0.01 during mid-day trading on Monday, reaching C$42.24. 549,861 shares of the company's stock traded hands, compared to its average volume of 7,487,754. Manulife Financial has a 12 month low of C$34.96 and a 12 month high of C$46.42. The firm has a 50 day moving average price of C$42.53 and a two-hundred day moving average price of C$42.66. The firm has a market capitalization of C$74.09 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 19th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's payout ratio is presently 49.79%.

Insider Buying and Selling at Manulife Financial

In related news, Director Ka Ming (Kenneth) Dai sold 1,073 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of C$42.96, for a total transaction of C$46,091.79. Also, Director Anthony Alex Silva bought 2,200 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average price of C$43.77 per share, with a total value of C$96,301.92. 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.