Desjardins Brokers Boost Earnings Estimates for Manulife Financial Co. (TSE:MFC)

Manulife Financial Co. (TSE:MFC - Free Report) NYSE: MFC - Research analysts at Desjardins upped their Q3 2024 earnings per share (EPS) estimates for Manulife Financial in a research note issued to investors on Wednesday, October 9th. Desjardins analyst D. Young now expects that the financial services provider will earn $0.96 per share for the quarter, up from their prior forecast of $0.95. The consensus estimate for Manulife Financial's current full-year earnings is $4.00 per share. Desjardins also issued estimates for Manulife Financial's FY2024 earnings at $3.75 EPS and FY2026 earnings at $4.35 EPS.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, topping analysts' consensus estimates of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%.

A number of other equities analysts have also weighed in on MFC. 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. Jefferies Financial Group decreased their target price on Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Scotiabank boosted their target price on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. Finally, TD Securities boosted their target price on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$39.18.

Manulife Financial Price Performance

Shares of TSE MFC traded up C$0.44 during mid-day trading on Friday, reaching C$41.82. The company's stock had a trading volume of 4,816,320 shares, compared to its average volume of 6,524,437. The firm has a market capitalization of C$74.02 billion, a PE ratio of 17.61, a P/E/G ratio of 12.56 and a beta of 1.05. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The stock has a fifty day moving average of C$37.47 and a two-hundred day moving average of C$35.69. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$42.03.

Insider Buying and Selling at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the company's 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 approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. In other news, Director Tin Ku sold 2,166 shares of the company's 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 approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Also, Senior Officer Steve Finch sold 11,599 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$414,439.23. Insiders have sold a total of 68,821 shares of company stock worth $2,455,596 over the last ninety days. Company insiders own 0.03% of the company's stock.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.60 dividend on an annualized basis and a yield of 3.83%. Manulife Financial's dividend payout ratio (DPR) is presently 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.