Manulife Financial Co. to Post Q4 2018 Earnings of $0.65 Per Share, Cormark Forecasts (MFC)
Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Stock analysts at Cormark cut their Q4 2018 earnings per share (EPS) estimates for Manulife Financial in a research report issued to clients and investors on Friday, November 9th. Cormark analyst M. Grauman now expects that the financial services provider will post earnings per share of $0.65 for the quarter, down from their previous forecast of $0.68.
MFC has been the subject of several other reports. TD Securities upped their price objective on Manulife Financial from C$29.00 to C$30.00 in a research report on Thursday, November 8th. CIBC upped their price objective on Manulife Financial from C$25.00 to C$26.50 in a research report on Sunday, November 4th. Evercore ISI reaffirmed an “in-line” rating and set a C$26.00 price objective on shares of Manulife Financial in a research report on Thursday, November 8th. National Bank Financial lowered their price objective on Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. Finally, Desjardins lowered their price objective on Manulife Financial from C$29.00 to C$27.00 in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of C$28.35.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th will be given a $0.25 dividend. The ex-dividend date is Monday, November 19th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. Manulife Financial’s dividend payout ratio is 70.79%.
In related news, insider Rahim Hirji sold 22,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of C$24.30, for a total value of C$534,600.00. Also, insider Paul Lorentz bought 4,460 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average cost of C$22.41 per share, with a total value of C$99,948.60.
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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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