Manulife Financial Co. (TSE:MFC – Get Rating) (NYSE:MFC) – Investment analysts at Cormark lowered their Q4 2022 earnings per share (EPS) estimates for Manulife Financial in a research report issued to clients and investors on Friday, August 12th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $0.86 per share for the quarter, down from their prior estimate of $0.87. The consensus estimate for Manulife Financial’s current full-year earnings is $3.34 per share. Cormark also issued estimates for Manulife Financial’s FY2023 earnings at $3.26 EPS.
Other equities analysts also recently issued research reports about the company. Scotiabank upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 27th. National Bankshares decreased their target price on Manulife Financial from C$26.00 to C$25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 19th. BMO Capital Markets initiated coverage on Manulife Financial in a report on Thursday, May 12th. They issued a “hold” rating and a C$27.00 price target for the company. Barclays cut their price target on Manulife Financial from C$34.00 to C$33.00 and set an “overweight” rating for the company in a report on Friday, May 13th. Finally, CIBC cut Manulife Financial from a “buy” rating to a “hold” rating and cut their price target for the company from C$25.00 to C$23.00 in a report on Friday, May 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial has an average rating of “Hold” and a consensus target price of C$27.73.
Manulife Financial Stock Performance
Shares of MFC stock opened at C$24.41 on Monday. The company has a market capitalization of C$46.54 billion and a P/E ratio of 6.31. The business’s 50 day moving average is C$22.72 and its two-hundred day moving average is C$24.54. Manulife Financial has a 12-month low of C$21.28 and a 12-month high of C$28.09. The company has a current ratio of 7.04, a quick ratio of 2.58 and a debt-to-equity ratio of 43.39.
Insiders Place Their Bets
In other Manulife Financial news, Director Claude. James Prieur purchased 13,900 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was bought at an average cost of C$22.96 per share, with a total value of C$319,188.48. Following the acquisition, the director now directly owns 158,900 shares of the company’s stock, valued at C$3,648,852.48.
Manulife Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Tuesday, August 23rd will be issued a $0.33 dividend. The ex-dividend date is Monday, August 22nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.41%. Manulife Financial’s dividend payout ratio (DPR) is currently 32.82%.
Manulife Financial Company Profile
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.
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