Brokers Offer Predictions for Manulife Financial Co.’s Q2 2024 Earnings (TSE:MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities research analysts at National Bank Financial boosted their Q2 2024 EPS estimates for Manulife Financial in a research report issued to clients and investors on Wednesday, May 8th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $0.88 per share for the quarter, up from their prior estimate of $0.87. National Bank Financial currently has a “Outperform Market Weight” rating on the stock. The consensus estimate for Manulife Financial’s current full-year earnings is $3.68 per share. National Bank Financial also issued estimates for Manulife Financial’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.66 EPS and FY2025 earnings at $4.07 EPS.

MFC has been the subject of a number of other research reports. BMO Capital Markets boosted their target price on shares of Manulife Financial from C$35.00 to C$40.00 in a research report on Monday, April 8th. Scotiabank boosted their price target 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. Cormark raised Manulife Financial from a “market perform” rating to a “buy” rating and boosted their price target for the company from C$33.00 to C$36.00 in a research note on Friday, February 16th. Royal Bank of Canada boosted their price target on Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, National Bankshares raised Manulife Financial from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$34.00 to C$38.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and an average price target of C$36.90.

Manulife Financial Trading Up 4.7 %

Shares of Manulife Financial stock opened at C$35.19 on Friday. The firm has a 50-day moving average of C$32.61 and a 200-day moving average of C$29.76. The stock has a market cap of C$63.34 billion, a PE ratio of 13.48, a PEG ratio of 12.56 and a beta of 1.09. Manulife Financial has a 52-week low of C$23.69 and a 52-week high of C$35.26. The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79.

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

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.55%. Manulife Financial’s payout ratio is 61.30%.

Insiders Place Their Bets

In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. In other news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction dated 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 the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. Insiders own 0.02% of the company’s stock.

About Manulife Financial

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.