Analysts Offer Predictions for Manulife Financial Corp.’s Q3 2016 Earnings (MFC)
Manulife Financial Corp. (TSE:MFC) – Desjardins reduced their Q3 2016 EPS estimates for Manulife Financial Corp. in a note issued to investors on Monday. Desjardins analyst D. Young now anticipates that the brokerage will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.44. Desjardins has a “Buy” rating and a $21.00 price objective on the stock. Desjardins also issued estimates for Manulife Financial Corp.’s FY2016 earnings at $1.72 EPS and FY2018 earnings at $2.20 EPS.
Several other equities research analysts have also issued reports on the company. Barclays PLC dropped their price target on Manulife Financial Corp. from C$21.00 to C$20.00 in a research note on Tuesday, July 12th. Scotiabank lowered their target price on Manulife Financial Corp. from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. TD Securities reissued a “hold” rating and issued a C$19.00 target price on shares of Manulife Financial Corp. in a research note on Friday, August 5th. Dundee Securities reissued a “buy” rating and issued a C$22.00 target price on shares of Manulife Financial Corp. in a research note on Wednesday, September 21st. Finally, CIBC lowered Manulife Financial Corp. from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$21.00 to C$19.00 in a research note on Saturday, August 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$20.85.
Shares of Manulife Financial Corp. (TSE:MFC) traded up 1.180% on Tuesday, reaching $19.295. The company’s stock had a trading volume of 1,007,145 shares. The company’s 50 day moving average price is $18.39 and its 200 day moving average price is $18.13. Manulife Financial Corp. has a 12-month low of $15.32 and a 12-month high of $22.65. The company has a market cap of $38.07 billion and a P/E ratio of 15.313.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Tuesday, August 16th were paid a $0.185 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.74 annualized dividend and a dividend yield of 3.88%.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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