Desjardins Equities Analysts Boost Earnings Estimates for Manulife Financial Corp (MFC)

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) – Stock analysts at Desjardins lifted their Q4 2017 earnings estimates for Manulife Financial Corp in a research report issued to clients and investors on Tuesday. Desjardins analyst D. Young now anticipates that the financial services provider will earn $0.43 per share for the quarter, up from their prior estimate of $0.41. Desjardins also issued estimates for Manulife Financial Corp’s FY2019 earnings at $1.96 EPS.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $12.34 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same period in the prior year, the company posted $0.40 earnings per share. TRADEMARK VIOLATION WARNING: This piece of content was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/13/desjardins-equities-analysts-boost-earnings-estimates-for-manulife-financial-corp-mfc.html.

Several other brokerages have also issued reports on MFC. BidaskClub lowered shares of Manulife Financial Corp from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a report on Monday, July 10th. Morgan Stanley lifted their price target on shares of Manulife Financial Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, ValuEngine lowered shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.50.

Shares of Manulife Financial Corp (NYSE MFC) traded down 0.05% during mid-day trading on Thursday, reaching $20.63. 349,488 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $19.98 and a 200-day moving average price of $18.82. Manulife Financial Corp has a 12 month low of $14.15 and a 12 month high of $20.84. The stock has a market cap of $40.81 billion, a PE ratio of 13.69 and a beta of 1.29.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.1621 per share. The ex-dividend date was Friday, August 18th. This is a positive change from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a dividend yield of 3.14%. Manulife Financial Corp’s payout ratio is 47.83%.

Several institutional investors have recently made changes to their positions in the stock. Ronald Blue & Co. LLC grew its holdings in shares of Manulife Financial Corp by 0.7% during the 2nd quarter. Ronald Blue & Co. LLC now owns 12,997 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 93 shares during the last quarter. MML Investors Services LLC grew its holdings in Manulife Financial Corp by 1.6% during the 2nd quarter. MML Investors Services LLC now owns 16,014 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 245 shares during the last quarter. Bessemer Group Inc. grew its holdings in Manulife Financial Corp by 0.9% during the 2nd quarter. Bessemer Group Inc. now owns 29,736 shares of the financial services provider’s stock worth $558,000 after acquiring an additional 261 shares during the last quarter. Park National Corp OH grew its holdings in Manulife Financial Corp by 3.9% during the 2nd quarter. Park National Corp OH now owns 13,525 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 508 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Manulife Financial Corp by 1.8% during the 2nd quarter. M&T Bank Corp now owns 41,840 shares of the financial services provider’s stock worth $785,000 after acquiring an additional 754 shares during the last quarter. 45.96% of the stock is currently owned by institutional investors.

About Manulife Financial Corp

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.

Earnings History and Estimates for Manulife Financial Corp (NYSE:MFC)

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