Manulife Financial Co. (MFC) Expected to Post Earnings of $0.45 Per Share
Wall Street brokerages expect Manulife Financial Co. (NYSE:MFC) (TSE:MFC) to post earnings of $0.45 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Manulife Financial’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.43. Manulife Financial reported earnings per share of $0.47 in the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The business is scheduled to announce its next earnings results on Thursday, February 8th.
On average, analysts expect that Manulife Financial will report full-year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.79. For the next financial year, analysts forecast that the company will post earnings of $1.97 per share, with EPS estimates ranging from $1.90 to $2.05. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Manulife Financial.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Morgan Stanley upped their price objective on shares of Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, ValuEngine cut shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Manulife Financial currently has an average rating of “Buy” and a consensus price target of $25.00.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in shares of Manulife Financial by 157.8% during the second quarter. SG Americas Securities LLC now owns 63,748 shares of the financial services provider’s stock valued at $1,196,000 after buying an additional 39,017 shares during the last quarter. BB&T Securities LLC purchased a new stake in shares of Manulife Financial during the second quarter valued at approximately $300,000. Marshall Wace North America L.P. purchased a new stake in shares of Manulife Financial during the second quarter valued at approximately $1,183,000. Andra AP fonden grew its holdings in shares of Manulife Financial by 10.1% during the second quarter. Andra AP fonden now owns 178,400 shares of the financial services provider’s stock valued at $3,347,000 after buying an additional 16,400 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Manulife Financial by 5.6% during the second quarter. Neuberger Berman Group LLC now owns 63,345 shares of the financial services provider’s stock valued at $1,188,000 after buying an additional 3,331 shares during the last quarter. Institutional investors and hedge funds own 46.51% of the company’s stock.
Manulife Financial (MFC) opened at $21.00 on Monday. The company has a market cap of $41,580.00, a PE ratio of 14.69, a PEG ratio of 1.27 and a beta of 1.33. Manulife Financial has a one year low of $16.62 and a one year high of $21.69.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were issued a $0.1606 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 44.76%.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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