Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) – Equities research analysts at National Bank Financial reduced their Q3 2018 earnings per share (EPS) estimates for shares of Manulife Financial in a research report issued on Thursday, according to Zacks Investment Research. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $0.65 per share for the quarter, down from their previous forecast of $0.67. National Bank Financial currently has a “Outperform” rating and a $31.00 target price on the stock. National Bank Financial also issued estimates for Manulife Financial’s FY2019 earnings at $2.84 EPS.
Several other equities research analysts also recently weighed in on MFC. Scotiabank increased their target price on shares of Manulife Financial from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. TD Securities decreased their target price on shares of Manulife Financial from C$30.00 to C$28.00 and set a “hold” rating for the company in a research note on Thursday, February 8th. Barclays increased their target price on shares of Manulife Financial from C$29.00 to C$30.00 in a research note on Monday, November 13th. Desjardins raised their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a research report on Monday, November 13th. Finally, BMO Capital Markets restated an “outperform” rating and issued a C$31.00 price objective on shares of Manulife Financial in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Manulife Financial currently has an average rating of “Buy” and a consensus price target of C$30.25.
Shares of Manulife Financial (TSE:MFC) traded down C$0.14 on Monday, hitting C$23.97. 2,370,000 shares of the stock traded hands, compared to its average volume of 4,430,000. Manulife Financial has a twelve month low of C$22.39 and a twelve month high of C$27.60. The firm has a market capitalization of $47,530.00, a P/E ratio of 19.65 and a beta of 0.94.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Wednesday, February 21st will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.88 dividend on an annualized basis and a yield of 3.67%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.21. Manulife Financial’s dividend payout ratio (DPR) is presently 67.21%.
In other news, Director Rocco Gori acquired 60,694 shares of Manulife Financial stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average price of C$26.70 per share, for a total transaction of C$1,620,529.80.
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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