Q1 2023 Earnings Forecast for Manulife Financial Co. (TSE:MFC) Issued By National Bank Financial

Manulife Financial Co. (TSE:MFC – Get Rating) (NYSE:MFC) – Investment analysts at National Bank Financial upped their Q1 2023 EPS estimates for Manulife Financial in a research report issued on Thursday, May 11th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $0.79 per share for the quarter, up from their prior estimate of $0.76. The consensus estimate for Manulife Financial’s current full-year earnings is $3.42 per share. National Bank Financial also issued estimates for Manulife Financial’s Q3 2023 earnings at $0.80 EPS and Q4 2023 earnings at $0.80 EPS.

Manulife Financial (TSE:MFC – Get Rating) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, February 15th. The financial services provider reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.81 by C$0.07. Manulife Financial had a net margin of 47.00% and a return on equity of 12.46%. The business had revenue of C$15.40 billion for the quarter.

Other research analysts have also issued reports about the stock. Cormark upped their target price on shares of Manulife Financial from C$25.00 to C$27.00 in a research report on Monday, January 23rd. CSFB upped their target price on shares of Manulife Financial from C$27.00 to C$28.00 in a research report on Friday, February 17th. National Bankshares upped their target price on shares of Manulife Financial from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 16th. Royal Bank of Canada upped their target price on shares of Manulife Financial from C$28.00 to C$30.00 in a research report on Friday. Finally, Barclays upped their price target on shares of Manulife Financial from C$30.00 to C$31.00 in a report on Monday, February 27th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$28.05.

Manulife Financial Trading Down 2.3 %

Shares of Manulife Financial stock opened at C$25.58 on Friday. The company has a quick ratio of 2.58, a current ratio of 4.70 and a debt-to-equity ratio of 43.99. The company’s 50-day simple moving average is C$25.62 and its 200-day simple moving average is C$25.03. Manulife Financial has a 52-week low of C$20.81 and a 52-week high of C$27.50. The firm has a market cap of C$47.32 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 12.96 and a beta of 1.12.

Insider Activity at Manulife Financial

In related news, Director Marianne Harrison sold 36,995 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of C$26.78, for a total transaction of C$990,607.72. In other Manulife Financial news, Director Donald Richard Lindsay acquired 50,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was bought at an average price of C$26.64 per share, with a total value of C$1,332,005.00. Also, Director Marianne Harrison sold 36,995 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of C$26.78, for a total transaction of C$990,607.72. Insiders own 0.03% of the company’s stock.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 19th. Investors of record on Monday, June 19th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Tuesday, May 23rd. Manulife Financial’s payout ratio is 39.67%.

About Manulife Financial

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.