Brokers Issue Forecasts for Manulife Financial Co.’s Q3 2018 Earnings (MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Analysts at Desjardins lifted their Q3 2018 earnings per share (EPS) estimates for Manulife Financial in a note issued to investors on Monday, October 15th. Desjardins analyst D. Young now expects that the financial services provider will earn $0.65 per share for the quarter, up from their previous estimate of $0.62. Desjardins also issued estimates for Manulife Financial’s FY2018 earnings at $2.57 EPS.

A number of other analysts have also recently commented on MFC. Canaccord Genuity set a C$29.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research note on Tuesday, July 24th. National Bank Financial cut their target price on shares of Manulife Financial from C$30.00 to C$27.00 and set an “outperform” rating for the company in a research note on Friday, October 5th. Seven analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of C$29.40.

MFC stock opened at C$20.22 on Thursday. Manulife Financial has a 52 week low of C$19.63 and a 52 week high of C$27.77.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, August 8th. The financial services provider reported C$0.70 EPS for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.05. The business had revenue of C$13.67 billion during the quarter. Manulife Financial had a negative net margin of 7.55% and a negative return on equity of 12.24%.

In related news, insider Rahim Hirji sold 22,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of C$24.30, for a total transaction of C$534,600.00. Also, insider Lynda Sullivan sold 5,754 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total transaction of C$138,901.56. Insiders have sold 45,883 shares of company stock valued at $1,111,136 in the last three months.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Tuesday, August 21st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, August 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.35%.

About Manulife Financial

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.

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

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