National Bank Financial Predicts TSE:MFC FY2024 Earnings

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities research analysts at National Bank Financial increased their FY2024 earnings per share estimates for Manulife Financial in a research note issued to investors on Wednesday, November 6th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $3.80 per share for the year, up from their prior estimate of $3.71. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share. National Bank Financial also issued estimates for Manulife Financial’s Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.30 EPS.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%.

Several other analysts have also commented on MFC. CIBC raised their target price on Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. TD Securities raised their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday. Barclays set a C$39.00 target price on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Finally, Scotiabank increased their price target on Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$41.82.

Manulife Financial Stock Up 2.7 %

Manulife Financial stock opened at C$44.76 on Friday. The firm has a market cap of C$79.23 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52 week low of C$24.90 and a 52 week high of C$45.68. The business’s 50-day moving average price is C$39.84 and its 200 day moving average price is C$36.88. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.57%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity

In other news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the transaction, the director now owns 253 shares in the company, valued at C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. In related news, Director Matthew Lyman Macinnis sold 6,708 shares of Manulife Financial stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Also, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the transaction, the director now owns 253 shares in the company, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. Insiders have sold a total of 68,821 shares of company stock worth $2,455,596 over the last quarter. 0.03% 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.