Desjardins Weighs in on Manulife Financial Corp’s Q4 2017 Earnings (MFC)

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) – Stock analysts at Desjardins boosted their Q4 2017 earnings estimates for Manulife Financial Corp in a research report issued on Tuesday. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $0.43 per share for the quarter, up from their prior forecast 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 announced its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $12.34 billion during the quarter, compared to analyst estimates of $16.09 billion. During the same quarter last year, the business earned $0.40 earnings per share. TRADEMARK VIOLATION WARNING: This report was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.com-unik.info/2017/10/12/desjardins-weighs-in-on-manulife-financial-corps-q4-2017-earnings-mfc.html.

A number of other equities analysts also recently issued reports on MFC. Morgan Stanley increased 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. ValuEngine downgraded shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price target for the company in a report on Monday, July 10th. Finally, BidaskClub upgraded shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.

Shares of Manulife Financial Corp (MFC) traded down 0.48% during midday trading on Thursday, reaching $20.70. 321,811 shares of the company’s stock traded hands. The stock has a market capitalization of $40.95 billion, a P/E ratio of 13.74 and a beta of 1.29. The firm’s 50-day moving average price is $19.95 and its 200 day moving average price is $18.81. Manulife Financial Corp has a 1-year low of $14.15 and a 1-year high of $20.84.

A number of large investors have recently bought and sold shares of MFC. SG Americas Securities LLC increased its holdings in Manulife Financial Corp by 76.3% during the 1st quarter. SG Americas Securities LLC now owns 24,731 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 10,706 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Manulife Financial Corp by 23.3% during the 1st quarter. Neuberger Berman Group LLC now owns 60,014 shares of the financial services provider’s stock valued at $1,065,000 after acquiring an additional 11,344 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Manulife Financial Corp by 26.8% during the 1st quarter. Alliancebernstein L.P. now owns 207,382 shares of the financial services provider’s stock valued at $3,679,000 after acquiring an additional 43,832 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Manulife Financial Corp by 16.1% during the 1st quarter. OppenheimerFunds Inc. now owns 12,793 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 1,775 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Manulife Financial Corp by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 960,340 shares of the financial services provider’s stock valued at $16,935,000 after acquiring an additional 64,260 shares in the last quarter. Hedge funds and other institutional investors own 45.96% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.1621 per share. This is an increase from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, August 18th. Manulife Financial Corp’s dividend payout ratio (DPR) is 47.83%.

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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