Analysts Expect Manulife Financial Co. (MFC) to Post $0.50 EPS

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Wall Street brokerages expect Manulife Financial Co. (NYSE:MFC) (TSE:MFC) to post $0.50 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Manulife Financial’s earnings, with estimates ranging from $0.49 to $0.52. Manulife Financial reported earnings per share of $0.46 in the same quarter last year, which suggests a positive year over year growth rate of 8.7%. The business is expected to report its next earnings report on Wednesday, February 6th.

On average, analysts expect that Manulife Financial will report full year earnings of $2.06 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $2.11. For the next year, analysts expect that the firm will post earnings of $2.19 per share, with EPS estimates ranging from $2.16 to $2.21. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Manulife Financial.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.25. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. The business had revenue of $6.15 billion during the quarter. During the same period in the prior year, the firm earned $0.53 earnings per share.

A number of research analysts recently issued reports on MFC shares. Desjardins reaffirmed a “buy” rating on shares of Manulife Financial in a report on Tuesday, October 16th. TheStreet cut Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, October 5th. ValuEngine cut Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Finally, Canaccord Genuity reissued a “buy” rating on shares of Manulife Financial in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Manulife Financial currently has a consensus rating of “Buy” and a consensus price target of $25.67.

Shares of Manulife Financial stock traded down $0.08 during trading on Monday, reaching $16.90. The company’s stock had a trading volume of 2,072,946 shares, compared to its average volume of 3,725,719. Manulife Financial has a one year low of $14.99 and a one year high of $22.16. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.81 and a beta of 1.31.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.19 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, November 19th. Manulife Financial’s payout ratio is currently 39.77%.

A number of large investors have recently made changes to their positions in MFC. MUFG Americas Holdings Corp grew its position in shares of Manulife Financial by 61.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after buying an additional 3,160 shares during the period. Private Advisor Group LLC grew its position in shares of Manulife Financial by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 28,656 shares of the financial services provider’s stock worth $512,000 after buying an additional 3,257 shares during the period. Daiwa SB Investments Ltd. grew its position in shares of Manulife Financial by 1.4% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 239,660 shares of the financial services provider’s stock worth $4,285,000 after buying an additional 3,330 shares during the period. CLARET ASSET MANAGEMENT Corp grew its position in shares of Manulife Financial by 3.4% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 112,409 shares of the financial services provider’s stock worth $2,009,000 after buying an additional 3,709 shares during the period. Finally, Barry Investment Advisors LLC grew its position in shares of Manulife Financial by 1.9% during the 3rd quarter. Barry Investment Advisors LLC now owns 222,186 shares of the financial services provider’s stock worth $3,973,000 after buying an additional 4,038 shares during the period. 46.21% of the stock is owned by hedge funds and other institutional investors.

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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