National Bank Financial Weighs in on TSE:MFC FY2024 Earnings

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Manulife Financial in a note issued to investors on Wednesday, November 6th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $3.80 per share for the year, up from their prior forecast of $3.71. 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 $0.96 EPS and FY2025 earnings at $4.30 EPS.

Several other equities analysts have also recently issued reports on the stock. Scotiabank upped their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday. National Bankshares raised their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday. Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an "equal weight" rating in a research note on Thursday, September 5th. Finally, TD Securities increased their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a "buy" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$42.27.

Manulife Financial Trading Down 1.2 %

Shares of Manulife Financial stock traded down C$0.52 on Friday, hitting C$44.24. The stock had a trading volume of 3,475,925 shares, compared to its average volume of 6,381,398. The stock has a 50 day moving average of C$39.84 and a 200 day moving average of C$36.88. The firm has a market capitalization of C$78.30 billion, a P/E ratio of 18.76, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a twelve month low of C$25.39 and a twelve month high of C$45.68. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, beating the consensus estimate of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.62%. Manulife Financial's payout ratio is 68.09%.

Insiders Place Their Bets

In related news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now owns 253 shares of the company's stock, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares of the company's stock, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their position. Also, Senior Officer Steve Finch sold 11,599 shares of Manulife Financial stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$414,439.23. In the last ninety days, insiders sold 68,821 shares of company stock valued at $2,455,596. Corporate insiders own 0.03% 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.