Desjardins Predicts Stronger Earnings for Manulife Financial

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Research analysts at Desjardins lifted their FY2024 earnings estimates for shares of Manulife Financial in a note issued to investors on Thursday, November 7th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $3.78 per share for the year, up from their prior estimate of $3.75. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share. Desjardins also issued estimates for Manulife Financial’s Q4 2024 earnings at $0.94 EPS.

Several other research analysts have also weighed in on MFC. TD Securities lifted their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank upped their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday. National Bankshares lifted their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Royal Bank of Canada increased their price target on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Finally, CIBC lifted their price objective on Manulife Financial from C$42.00 to C$46.00 in a report on Friday. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$42.27.

Manulife Financial Stock Up 2.0 %

TSE:MFC opened at C$45.11 on Monday. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$25.65 and a 12-month high of C$45.68. The firm has a market capitalization of C$79.84 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The stock’s fifty day simple moving average is C$40.15 and its 200-day simple moving average is C$37.05.

Manulife Financial Dividend Announcement

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 paid 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 3.55%. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Activity

In related news, Director Rocco Gori sold 48,345 shares of the firm’s 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$1,727,395.86. In other Manulife Financial news, Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. Also, Director Tin Ku sold 2,166 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. Insiders have sold 62,113 shares of company stock worth $2,223,030 over the last ninety days. Insiders own 0.03% of the company’s stock.

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.