Q3 2024 Earnings Estimate for Manulife Financial Co. Issued By Desjardins (TSE:MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities research analysts at Desjardins boosted their Q3 2024 earnings per share (EPS) estimates for shares of Manulife Financial in a research report issued on Wednesday, October 9th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $0.96 for the quarter, up from their prior estimate 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.

MFC has been the subject of a number of other reports. Scotiabank upped their target price on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. Royal Bank of Canada upped their target price on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. TD Securities upped their target price on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$39.18.

Manulife Financial Stock Up 1.3 %

MFC stock opened at C$41.38 on Friday. The business’s 50 day simple moving average is C$37.35 and its 200 day simple moving average is C$35.65. The firm has a market capitalization of C$73.24 billion, a PE ratio of 17.61, a PEG ratio of 12.56 and a beta of 1.05. Manulife Financial has a 1-year low of C$23.69 and a 1-year high of C$41.41. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion for 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%.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.40 dividend. 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 3.87%. Manulife Financial’s payout ratio is presently 68.09%.

Insiders Place Their Bets

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. Also, 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 sale, the director now owns 253 shares in the company, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. Insiders sold a total of 68,821 shares of company stock valued at $2,455,596 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

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.