Equities research analysts expect Manulife Financial Co. (NYSE:MFC) (TSE:MFC) to report $0.55 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Manulife Financial’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.53. Manulife Financial reported earnings per share of $0.57 during the same quarter last year, which suggests a negative year over year growth rate of 3.5%. The company is expected to announce its next quarterly earnings results on Wednesday, November 6th.
On average, analysts expect that Manulife Financial will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.17 to $2.27. For the next financial year, analysts forecast that the business will report earnings of $2.35 per share, with EPS estimates ranging from $2.27 to $2.40. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Manulife Financial.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). Manulife Financial had a return on equity of 13.27% and a net margin of 9.36%. The company had revenue of $16.60 billion during the quarter. During the same quarter in the previous year, the business earned $0.70 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in MFC. Morgan Stanley grew its holdings in Manulife Financial by 25.7% during the 2nd quarter. Morgan Stanley now owns 2,726,874 shares of the financial services provider’s stock worth $49,574,000 after acquiring an additional 557,244 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Manulife Financial by 50.1% during the 2nd quarter. Alberta Investment Management Corp now owns 6,956,000 shares of the financial services provider’s stock worth $165,553,000 after acquiring an additional 2,322,700 shares in the last quarter. Paloma Partners Management Co bought a new position in Manulife Financial during the 2nd quarter worth about $358,000. Man Group plc grew its holdings in Manulife Financial by 132.4% during the 2nd quarter. Man Group plc now owns 1,908,744 shares of the financial services provider’s stock worth $34,738,000 after acquiring an additional 1,087,271 shares in the last quarter. Finally, Capital Bank & Trust Co grew its holdings in Manulife Financial by 118.0% during the 2nd quarter. Capital Bank & Trust Co now owns 2,409 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,304 shares in the last quarter. 46.93% of the stock is currently owned by institutional investors and hedge funds.
Manulife Financial stock traded down $0.38 during mid-day trading on Wednesday, reaching $16.53. 1,112,843 shares of the company’s stock traded hands, compared to its average volume of 2,075,662. The stock has a market capitalization of $32.43 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. The firm’s 50 day moving average price is $18.00. Manulife Financial has a 12-month low of $13.33 and a 12-month high of $18.95.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Tuesday, August 20th will be paid a dividend of $0.189 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.76 dividend on an annualized basis and a yield of 4.57%. Manulife Financial’s dividend payout ratio is presently 35.55%.
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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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