National Bank Financial Predicts MFC FY2024 Earnings

Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC - Investment analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for Manulife Financial in a research note issued to investors on Thursday, October 24th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $2.67 for the year, up from their prior estimate of $2.66. The consensus estimate for Manulife Financial's current full-year earnings is $2.74 per share. National Bank Financial also issued estimates for Manulife Financial's Q4 2024 earnings at $0.68 EPS.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The company had revenue of $9.41 billion during the quarter, compared to analysts' expectations of $8.95 billion. During the same period last year, the business earned $0.62 earnings per share.

A number of other research firms have also recently issued reports on MFC. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $35.67.

Manulife Financial Trading Up 1.5 %

Shares of Manulife Financial stock traded up $0.44 during trading on Monday, reaching $30.23. The company's stock had a trading volume of 1,124,102 shares, compared to its average volume of 2,571,349. The stock has a 50-day moving average price of $28.77 and a two-hundred day moving average price of $26.65. Manulife Financial has a one year low of $17.30 and a one year high of $30.86. The stock has a market capitalization of $54.10 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.10 and a beta of 1.08.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 annualized dividend and a yield of 3.84%. Manulife Financial's dividend payout ratio is currently 66.86%.

Institutional Trading of Manulife Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Financial Advisors LLC bought a new stake in Manulife Financial during the 3rd quarter worth about $26,000. Grove Bank & Trust acquired a new position in shares of Manulife Financial during the 2nd quarter worth about $25,000. Fortitude Family Office LLC acquired a new position in shares of Manulife Financial during the 3rd quarter worth about $31,000. Addison Advisors LLC grew its position in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after buying an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after buying an additional 600 shares during the period. 52.56% of the stock is owned by institutional investors.

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.