Q1 2024 Earnings Estimate for Manulife Financial Co. Issued By National Bank Financial (TSE:MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – National Bank Financial raised their Q1 2024 earnings per share (EPS) estimates for shares of Manulife Financial in a research report issued to clients and investors on Thursday, April 25th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $0.90 per share for the quarter, up from their prior forecast of $0.89. The consensus estimate for Manulife Financial’s current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Manulife Financial’s Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.59 EPS and FY2025 earnings at $3.98 EPS.

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

Other analysts have also issued reports about the company. Royal Bank of Canada increased their target price on Manulife Financial from C$34.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Scotiabank raised their price objective on Manulife Financial from C$35.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. BMO Capital Markets raised their price objective on Manulife Financial from C$35.00 to C$40.00 in a research note on Monday, April 8th. Veritas Investment Research reaffirmed a “reduce” rating on shares of Manulife Financial in a research note on Friday, February 16th. Finally, National Bankshares raised their price objective on Manulife Financial from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$36.40.

Manulife Financial Stock Performance

Shares of TSE MFC opened at C$32.11 on Monday. The firm has a market cap of C$58.12 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a one year low of C$23.69 and a one year high of C$34.05. 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 stock’s fifty day moving average price is C$32.56 and its two-hundred day moving average price is C$29.45.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a $0.40 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s payout ratio is presently 61.30%.

Insiders Place Their Bets

In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. In related news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The stock was 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 Manulife Financial stock in a transaction that occurred 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. 0.02% of the stock is currently owned by corporate insiders.

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.