National Bank Financial Weighs in on TSE:MFC FY2024 Earnings

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Research analysts at National Bank Financial increased their FY2024 earnings per share estimates for shares of Manulife Financial in a research report issued on Wednesday, November 6th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $3.80 for the year, up from their prior estimate of $3.71. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share. National Bank Financial also issued estimates for Manulife Financial’s Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.30 EPS.

MFC has been the topic of several other research reports. CIBC lifted their price target on Manulife Financial from C$42.00 to C$46.00 in a report on Friday. Royal Bank of Canada increased their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Scotiabank upped their price objective on Manulife Financial from C$48.00 to C$49.00 in a report on Friday. Jefferies Financial Group raised their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, National Bankshares lifted their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$42.27.

Manulife Financial Price Performance

TSE:MFC opened at C$44.24 on Friday. The stock has a 50 day moving average price of C$40.15 and a 200 day moving average price of C$36.98. The stock has a market cap of C$78.30 billion, a PE ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. Manulife Financial has a one year low of C$25.39 and a one year high of C$45.68.

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 analysts’ consensus estimates of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The firm had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.62%. Manulife Financial’s dividend payout ratio is presently 68.09%.

Insider Activity

In related news, Senior Officer Steve Finch sold 11,599 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$414,439.23. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Senior Officer Steve Finch sold 11,599 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$414,439.23. Over the last quarter, insiders sold 68,821 shares of company stock valued at $2,455,596. 0.03% of the stock is currently owned by company insiders.

About Manulife Financial

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.