Equities Analysts Offer Predictions for Manulife Financial Co.’s Q2 2023 Earnings (TSE:MFC)

Manulife Financial Co. (TSE:MFC – Get Rating) (NYSE:MFC) – Equities researchers at Zacks Research dropped their Q2 2023 earnings per share (EPS) estimates for shares of Manulife Financial in a research report issued to clients and investors on Wednesday, May 24th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.83. The consensus estimate for Manulife Financial’s current full-year earnings is $3.39 per share. Zacks Research also issued estimates for Manulife Financial’s Q3 2023 earnings at $0.85 EPS, Q4 2023 earnings at $0.89 EPS, FY2023 earnings at $3.34 EPS, Q1 2024 earnings at $0.94 EPS, Q2 2024 earnings at $0.94 EPS, Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $3.95 EPS and Q1 2025 earnings at $1.06 EPS.

Several other research firms have also weighed in on MFC. National Bankshares raised their target price on Manulife Financial from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a report on Thursday, February 16th. Barclays raised their price objective on Manulife Financial from C$30.00 to C$31.00 in a research note on Monday, February 27th. CSFB upped their target price on Manulife Financial from C$27.00 to C$28.00 in a research report on Friday, February 17th. TD Securities lifted their price target on shares of Manulife Financial from C$34.00 to C$35.00 in a research report on Thursday, May 11th. Finally, Royal Bank of Canada upped their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a report on Friday, May 12th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$28.17.

Manulife Financial Price Performance

Shares of MFC opened at C$25.19 on Friday. The company has a debt-to-equity ratio of 27.78, a quick ratio of 2.58 and a current ratio of 4.70. The firm has a market cap of C$46.60 billion, a PE ratio of 4.95, a PEG ratio of 12.96 and a beta of 1.12. The firm’s 50 day moving average price is C$25.57 and its 200 day moving average price is C$25.24. Manulife Financial has a twelve month low of C$20.81 and a twelve month high of C$27.50.

Insiders Place Their Bets

In related news, Director Donald Richard Lindsay acquired 50,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was acquired at an average price of C$26.64 per share, with a total value of C$1,332,005.00. Company insiders own 0.03% of the company’s stock.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 19th. Shareholders of record on Wednesday, May 24th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date is Tuesday, May 23rd. Manulife Financial’s dividend payout ratio (DPR) is presently 28.68%.

Manulife Financial Company Profile

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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.