Analysts Expect Manulife Financial Corp (MFC) to Announce $0.45 EPS

Brokerages expect that Manulife Financial Corp (NYSE:MFC) (TSE:MFC) will announce earnings per share (EPS) of $0.45 for the current quarter, according to Zacks. Zero analysts have made estimates for Manulife Financial’s earnings, with estimates ranging from $0.43 to $0.50. Manulife Financial reported earnings of $0.47 per share in the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Manulife Financial will report full year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.72 to $1.79. For the next fiscal year, analysts expect that the company will post earnings of $1.95 per share, with EPS estimates ranging from $1.85 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Manulife Financial.

MFC has been the topic of several analyst reports. Morgan Stanley increased their target price on Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. ValuEngine lowered Manulife Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Zacks Investment Research lowered Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Manulife Financial presently has an average rating of “Buy” and an average price target of $25.00.

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in Manulife Financial by 15.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 84,067 shares of the financial services provider’s stock valued at $1,576,000 after buying an additional 11,353 shares in the last quarter. Barometer Capital Management Inc. acquired a new position in shares of Manulife Financial in the 3rd quarter valued at $11,093,000. Andra AP fonden boosted its position in shares of Manulife Financial by 10.1% in the 2nd quarter. Andra AP fonden now owns 178,400 shares of the financial services provider’s stock valued at $3,347,000 after purchasing an additional 16,400 shares during the period. Wells Fargo & Company MN boosted its position in shares of Manulife Financial by 1.3% in the 2nd quarter. Wells Fargo & Company MN now owns 13,554,829 shares of the financial services provider’s stock valued at $254,288,000 after purchasing an additional 176,947 shares during the period. Finally, BB&T Corp boosted its position in shares of Manulife Financial by 36.6% in the 3rd quarter. BB&T Corp now owns 54,202 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 14,525 shares during the period. 46.55% of the stock is owned by institutional investors.

Shares of Manulife Financial (MFC) traded down $0.16 during trading hours on Thursday, hitting $20.86. The stock had a trading volume of 1,974,000 shares, compared to its average volume of 2,375,954. The stock has a market cap of $41,595.32, a PE ratio of 12.15, a P/E/G ratio of 1.27 and a beta of 1.33. Manulife Financial has a 1-year low of $16.62 and a 1-year high of $21.69.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be paid a $0.1606 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.64 annualized dividend and a dividend yield of 3.08%. Manulife Financial’s payout ratio is 45.71%.

COPYRIGHT VIOLATION NOTICE: This piece was first published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://www.thelincolnianonline.com/2017/12/07/analysts-expect-manulife-financial-corp-mfc-to-announce-0-45-eps.html.

Manulife Financial Company Profile

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.

Get a free copy of the Zacks research report on Manulife Financial (MFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Manulife Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply