National Bank Financial Weighs in on TSE:MFC FY2024 Earnings

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Equities researchers at National Bank Financial raised their FY2024 EPS estimates for shares of Manulife Financial in a research note issued to investors on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $3.82 per share for the year, up from their prior forecast of $3.80. 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 $0.97 EPS and FY2026 earnings at $4.66 EPS.

A number of other brokerages also recently commented on MFC. National Bankshares upped their price objective on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Barclays upped their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Scotiabank lifted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. TD Securities upped their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Cormark raised their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$44.09.

Manulife Financial Stock Performance

Shares of TSE:MFC traded up C$0.39 during trading on Thursday, hitting C$44.37. 1,850,050 shares of the company traded hands, compared to its average volume of 3,253,337. The stock has a market capitalization of C$78.53 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a one year low of C$28.06 and a one year high of C$46.42. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The business's fifty day moving average is C$44.48 and its 200-day moving average is C$40.24.

Insider Buying and Selling at Manulife Financial

In related news, Director Brooks Tingle sold 3,866 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total transaction of C$194,315.82. In the last ninety days, insiders sold 77,771 shares of company stock valued at $3,508,584. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 3.61%. Manulife Financial's dividend payout ratio (DPR) is 68.09%.

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.