Manulife Financial (MFC) Set to Announce Quarterly Earnings on Wednesday

Manulife Financial (NYSE:MFC) (TSE:MFC) will announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.66 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $7.57 billion. On average, analysts expect Manulife Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Manulife Financial Trading Up 1.8 %

Manulife Financial stock opened at $24.44 on Tuesday. Manulife Financial has a 1-year low of $17.07 and a 1-year high of $25.14. The firm’s fifty day simple moving average is $23.93 and its 200-day simple moving average is $21.89. The company has a market capitalization of $43.89 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.89 and a beta of 1.08.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.298 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is 61.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MFC. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Jefferies Financial Group began coverage on Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have assigned 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 $33.33.

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.