FY2025 EPS Estimates for Manulife Financial Cut by Cormark

Key Points

• Cormark has decreased its FY2025 earnings per share (EPS) estimate for Manulife Financial from $4.15 to $3.99, while the consensus estimate is $3.61 per share.
• The average target price for Manulife Financial's shares has decreased, with various analysts giving a range of targets between C$46.00 and C$51.00.
• Manulife Financial will pay a quarterly dividend of $0.44 per share on September 19, representing a yield of 4.3% and a payout ratio of 49.79%.

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Investment analysts at Cormark lowered their FY2025 earnings estimates for Manulife Financial in a research note issued on Thursday, August 7th. Cormark analyst L. Persaud now forecasts that the financial services provider will post earnings per share of $3.99 for the year, down from their prior estimate of $4.15. The consensus estimate for Manulife Financial's current full-year earnings is $3.61 per share.

MFC has been the subject of a number of other reports. Barclays increased their target price on shares of Manulife Financial from C$46.00 to C$47.00 and gave the company an "equal weight" rating in a report on Thursday. CIBC decreased their target price on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Scotiabank decreased their target price on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada decreased their target price on shares of Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$47.75.

Manulife Financial Price Performance

Manulife Financial stock traded up C$0.07 during mid-day trading on Friday, reaching C$41.41. The company had a trading volume of 9,715,294 shares, compared to its average volume of 7,616,395. Manulife Financial has a 1 year low of C$34.03 and a 1 year high of C$46.42. The company has a market capitalization of C$72.63 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.01 and a beta of 1.06. The stock's 50-day simple moving average is C$42.70 and its 200-day simple moving average is C$42.71.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.3%. Manulife Financial's dividend payout ratio (DPR) is 49.79%.

Insider Activity

In other news, Senior Officer Trevor Kreel sold 3,636 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$160,781.74. Also, Director Anthony Alex Silva bought 2,200 shares of the company's stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of C$43.77 per share, with a total value of C$96,301.92. Insiders have sold a total of 62,070 shares of company stock worth $2,744,604 over the last three months. 0.03% of the stock is currently owned by corporate insiders.

About Manulife Financial

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.