Desjardins Brokers Cut Earnings Estimates for Manulife Financial Co. (MFC)

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Stock analysts at Desjardins reduced their Q4 2018 earnings estimates for Manulife Financial in a research note issued on Thursday, January 10th. Desjardins analyst D. Young now expects that the financial services provider will post earnings per share of $0.46 for the quarter, down from their previous estimate of $0.49. Desjardins currently has a “Buy” rating on the stock.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.50 by $0.25. Manulife Financial had a return on equity of 13.70% and a net margin of 5.49%. The company had revenue of $6.15 billion during the quarter. During the same quarter in the previous year, the business posted $0.53 earnings per share.



MFC has been the subject of several other reports. TheStreet downgraded Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. ValuEngine upgraded Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, November 19th. Canaccord Genuity restated a “buy” rating on shares of Manulife Financial in a research note on Friday, November 9th. Finally, Scotiabank restated an “average” rating and set a $28.00 price target on shares of Manulife Financial in a research note on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $24.33.

NYSE MFC opened at $15.55 on Friday. Manulife Financial has a one year low of $13.33 and a one year high of $22.16. The stock has a market capitalization of $31.00 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.71 and a beta of 1.32.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th were paid a dividend of $0.19 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Monday, November 19th. Manulife Financial’s payout ratio is currently 44.44%.

Several institutional investors have recently added to or reduced their stakes in MFC. Honkamp Krueger Financial Services Inc. bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $121,000. Cerebellum GP LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $149,000. Truvestments Capital LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $149,000. Csenge Advisory Group bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $203,000. Finally, Glassman Wealth Services grew its stake in shares of Manulife Financial by 348.5% during the 3rd quarter. Glassman Wealth Services now owns 12,433 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 9,661 shares during the period. Institutional investors and hedge funds own 46.39% of the company’s stock.

Manulife Financial Company Profile

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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