Zacks: Brokerages Anticipate Manulife Financial Co. (MFC) to Announce $0.50 Earnings Per Share

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Wall Street analysts forecast that Manulife Financial Co. (NYSE:MFC) (TSE:MFC) will report $0.50 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Manulife Financial’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.52. Manulife Financial reported earnings per share of $0.46 in the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 6th.

According to Zacks, analysts expect that Manulife Financial will report full year earnings of $2.06 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.11. For the next fiscal year, analysts expect that the company will report earnings of $2.19 per share, with EPS estimates ranging from $2.16 to $2.21. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Manulife Financial.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.25. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. The company had revenue of $6.15 billion for the quarter. During the same period in the prior year, the business posted $0.53 earnings per share.

MFC has been the topic of a number of recent research reports. TheStreet cut Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. Desjardins reaffirmed a “buy” rating on shares of Manulife Financial in a report on Tuesday, October 16th. ValuEngine cut Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Zacks Investment Research cut Manulife Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $25.67.

Manulife Financial stock traded down $0.08 during trading on Monday, reaching $16.90. The company had a trading volume of 2,072,946 shares, compared to its average volume of 3,725,719. Manulife Financial has a 52 week low of $14.99 and a 52 week high of $22.16. The stock has a market cap of $32.47 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.81 and a beta of 1.31.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, November 19th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 4.50%. Manulife Financial’s dividend payout ratio (DPR) is currently 39.77%.

A number of large investors have recently bought and sold shares of MFC. Toronto Dominion Bank raised its holdings in Manulife Financial by 123.4% during the second quarter. Toronto Dominion Bank now owns 11,548,947 shares of the financial services provider’s stock valued at $210,529,000 after acquiring an additional 6,379,595 shares during the period. Addenda Capital Inc. raised its holdings in Manulife Financial by 101.6% during the second quarter. Addenda Capital Inc. now owns 6,455,126 shares of the financial services provider’s stock valued at $117,819,000 after acquiring an additional 3,253,890 shares during the period. Janus Henderson Group PLC raised its holdings in Manulife Financial by 629.2% during the second quarter. Janus Henderson Group PLC now owns 3,599,207 shares of the financial services provider’s stock valued at $64,654,000 after acquiring an additional 3,105,627 shares during the period. Highstreet Asset Management Inc. raised its holdings in Manulife Financial by 239.0% during the third quarter. Highstreet Asset Management Inc. now owns 1,965,916 shares of the financial services provider’s stock valued at $35,143,000 after acquiring an additional 1,386,077 shares during the period. Finally, Letko Brosseau & Associates Inc. raised its holdings in Manulife Financial by 7.7% during the second quarter. Letko Brosseau & Associates Inc. now owns 19,231,896 shares of the financial services provider’s stock valued at $345,325,000 after acquiring an additional 1,381,094 shares during the period. 46.21% of the stock is currently owned by institutional investors and hedge funds.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

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

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