Manulife Financial (MFC) Releases Earnings Results, Beats Estimates By $0.25 EPS

Manulife Financial (NYSE:MFC) (TSE:MFC) issued its earnings results on Wednesday. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.25, Briefing.com reports. The business had revenue of $6.15 billion for the quarter. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. During the same period last year, the business posted $0.53 earnings per share.

NYSE MFC traded down $0.12 on Friday, hitting $16.86. The stock had a trading volume of 109,693 shares, compared to its average volume of 3,898,550. Manulife Financial has a 52-week low of $14.99 and a 52-week high of $22.16. The firm has a market capitalization of $32.65 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.81 and a beta of 1.31.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be issued a $0.19 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, November 19th. Manulife Financial’s payout ratio is currently 39.77%.

MFC has been the topic of a number of research reports. TheStreet lowered shares of Manulife Financial from a “b-” rating to a “c+” rating in a research report on Monday, October 15th. Desjardins reaffirmed a “buy” rating on shares of Manulife Financial in a research report on Tuesday, October 16th. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, October 5th. ValuEngine lowered shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.67.

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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.

Read More: Are Wall Street analysts’ stock ratings worth following?

Earnings History for Manulife Financial (NYSE:MFC)

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