Manulife Financial Co. Forecasted to Post FY2022 Earnings of $2.72 Per Share (NYSE:MFC)

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Stock analysts at National Bank Financial decreased their FY2022 earnings per share (EPS) estimates for shares of Manulife Financial in a note issued to investors on Tuesday, January 11th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings of $2.72 per share for the year, down from their prior forecast of $3.07. National Bank Financial currently has a “Sector Perform” rating and a $28.00 target price on the stock. National Bank Financial also issued estimates for Manulife Financial’s FY2023 earnings at $2.57 EPS.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 3rd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.05). The business had revenue of $12.69 billion during the quarter.

Other analysts also recently issued research reports about the company. Scotiabank lifted their target price on Manulife Financial from C$28.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 16th. CIBC downgraded Manulife Financial from a “neutral” rating to a “sector underperform” rating in a research note on Thursday, December 16th. TD Securities lifted their target price on Manulife Financial from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Tuesday, November 16th. Finally, Credit Suisse Group lifted their target price on Manulife Financial from C$26.00 to C$28.00 and gave the company a “neutral” rating in a research note on Tuesday, November 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Manulife Financial presently has a consensus rating of “Hold” and a consensus price target of $29.50.

Shares of MFC opened at $20.70 on Friday. The business’s 50 day moving average is $19.25 and its 200 day moving average is $19.46. The company has a market capitalization of $40.21 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.72 and a beta of 1.33. Manulife Financial has a 12-month low of $17.66 and a 12-month high of $22.25.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 20th. Shareholders of record on Wednesday, December 1st were paid a $0.226 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $0.90 dividend on an annualized basis and a yield of 4.37%. Manulife Financial’s payout ratio is presently 38.01%.

A number of large investors have recently added to or reduced their stakes in MFC. Harvest Fund Management Co. Ltd bought a new stake in Manulife Financial in the 2nd quarter worth approximately $29,000. PSI Advisors LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $29,000. Carolinas Wealth Consulting LLC increased its position in shares of Manulife Financial by 126.8% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,735 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 970 shares during the last quarter. Strategic Blueprint LLC bought a new position in shares of Manulife Financial during the 2nd quarter valued at approximately $35,000. Finally, Sargent Bickham Lagudis LLC increased its position in shares of Manulife Financial by 41.0% during the 3rd quarter. Sargent Bickham Lagudis LLC now owns 1,856 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 540 shares during the last quarter. 46.54% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Company Profile

Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.

Featured Story: Why do earnings reports matter?

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.