Manulife Financial Co. to Post FY2019 Earnings of $2.16 Per Share, Desjardins Forecasts (MFC)

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Desjardins raised their FY2019 earnings per share (EPS) estimates for Manulife Financial in a research note issued on Monday, October 15th. Desjardins analyst D. Young now expects that the financial services provider will earn $2.16 per share for the year, up from their previous estimate of $2.13. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Manulife Financial’s FY2020 earnings at $2.31 EPS.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, August 8th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.21. The firm had revenue of $10.59 billion for the quarter. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. During the same period last year, the business earned $0.57 EPS.

Several other analysts have also recently weighed in on MFC. Evercore ISI began coverage on shares of Manulife Financial in a report on Tuesday, July 10th. They issued an “in-line” rating on the stock. Morgan Stanley cut their price objective on shares of Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th. Zacks Investment Research cut shares of Manulife Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine cut shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Finally, TheStreet cut shares of Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $25.67.

Shares of NYSE:MFC opened at $15.81 on Wednesday. The company has a market capitalization of $35.48 billion, a P/E ratio of 9.25, a PEG ratio of 0.88 and a beta of 1.29. Manulife Financial has a fifty-two week low of $15.17 and a fifty-two week high of $22.16.

Several institutional investors have recently made changes to their positions in the company. MUFG Americas Holdings Corp increased its holdings in shares of Manulife Financial by 61.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,160 shares during the period. Daiwa SB Investments Ltd. increased its holdings in shares of Manulife Financial by 1.4% in the 3rd quarter. Daiwa SB Investments Ltd. now owns 239,660 shares of the financial services provider’s stock valued at $4,285,000 after acquiring an additional 3,330 shares during the period. Janney Montgomery Scott LLC grew its position in Manulife Financial by 21.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 26,234 shares of the financial services provider’s stock valued at $471,000 after buying an additional 4,695 shares during the last quarter. LPL Financial LLC grew its position in Manulife Financial by 11.1% in the 1st quarter. LPL Financial LLC now owns 56,575 shares of the financial services provider’s stock valued at $1,051,000 after buying an additional 5,645 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC grew its position in Manulife Financial by 11.8% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 58,198 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 6,148 shares during the last quarter. 46.12% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Tuesday, August 21st were issued a $0.169 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.28%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, August 20th. Manulife Financial’s payout ratio is presently 39.77%.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

Recommended Story: Retained Earnings

Earnings History and Estimates for Manulife Financial (NYSE:MFC)

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply