Manulife Financial Corp. (MFC) to Post Q4 2016 Earnings of $0.33 Per Share, Desjardins Forecasts
Manulife Financial Corp. (NYSE:MFC) – Stock analysts at Desjardins cut their Q4 2016 earnings estimates for Manulife Financial Corp. in a research note issued to investors on Thursday. Desjardins analyst D. Young now forecasts that the brokerage will post earnings of $0.33 per share for the quarter, down from their prior forecast of $0.34.
Other equities analysts have also recently issued research reports about the company. Credit Suisse Group AG restated an “outperform” rating on shares of Manulife Financial Corp. in a report on Monday. Zacks Investment Research upgraded Manulife Financial Corp. from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets set a $21.00 price target on Manulife Financial Corp. and gave the company a “buy” rating in a report on Friday, August 5th. CIBC cut Manulife Financial Corp. from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, August 4th. Finally, Macquarie cut Manulife Financial Corp. from an “outperform” rating to a “neutral” rating in a report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.38.
Manulife Financial Corp. (NYSE:MFC) opened at 17.08 on Monday. Manulife Financial Corp. has a 12-month low of $10.99 and a 12-month high of $17.11. The company has a market cap of $35.09 billion, a P/E ratio of 14.97 and a beta of 1.51. The firm has a 50-day moving average price of $14.52 and a 200-day moving average price of $14.05.
Manulife Financial Corp. (NYSE:MFC) last announced its earnings results on Thursday, November 10th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.15. Manulife Financial Corp. had a return on equity of 9.05% and a net margin of 4.63%. During the same quarter in the prior year, the firm earned $0.43 earnings per share.
A number of institutional investors have recently bought and sold shares of MFC. Jane Street Group LLC boosted its position in Manulife Financial Corp. by 53.6% in the third quarter. Jane Street Group LLC now owns 501,803 shares of the company’s stock worth $7,080,000 after buying an additional 175,130 shares during the last quarter. National Asset Management Inc. acquired a new position in Manulife Financial Corp. during the third quarter worth about $269,000. Moors & Cabot Inc. boosted its position in Manulife Financial Corp. by 28.7% in the third quarter. Moors & Cabot Inc. now owns 43,768 shares of the company’s stock worth $617,000 after buying an additional 9,754 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in Manulife Financial Corp. by 10.1% in the third quarter. HBK Sorce Advisory LLC now owns 12,286 shares of the company’s stock worth $173,000 after buying an additional 1,132 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Manulife Financial Corp. during the third quarter worth about $9,151,000. Institutional investors own 48.77% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Tuesday, November 22nd will be issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, November 18th. Manulife Financial Corp.’s payout ratio is currently 50.89%.
Manulife Financial Corp. Company Profile
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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