Manulife Financial Co. Expected to Earn Q4 2018 Earnings of $0.61 Per Share (MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Stock analysts at Desjardins dropped their Q4 2018 earnings estimates for shares of Manulife Financial in a research report issued on Thursday, January 10th. Desjardins analyst D. Young now anticipates that the financial services provider will earn $0.61 per share for the quarter, down from their previous forecast of $0.64.

MFC has been the subject of several other reports. TD Securities raised their price objective on Manulife Financial from C$29.00 to C$30.00 in a research note on Thursday, November 8th. CIBC raised their price objective on Manulife Financial from C$25.00 to C$26.50 in a research note on Sunday, November 4th. Evercore ISI reaffirmed an “in-line” rating and issued a C$26.00 price objective on shares of Manulife Financial in a research note on Thursday, November 8th. National Bank Financial dropped their price objective on Manulife Financial from C$30.00 to C$27.00 and set an “outperform” rating for the company in a research note on Friday, October 5th. Finally, Evercore set a C$26.00 price objective on Manulife Financial and gave the company an “in-line” rating in a research note on Thursday, November 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$28.06.

Shares of MFC stock opened at C$20.63 on Friday. Manulife Financial has a 12-month low of C$18.33 and a 12-month high of C$27.77.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, November 7th. The financial services provider reported C$0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.66 by C$0.09. The business had revenue of C$8.04 billion for the quarter.

In other Manulife Financial news, Director Michael James Doughty sold 18,130 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of C$22.46, for a total transaction of C$407,199.80. Also, insider Steve Finch bought 3,000 shares of the stock in a transaction on Thursday, November 15th. The shares were bought at an average price of C$16.63 per share, for a total transaction of C$49,890.00. Insiders purchased a total of 59,460 shares of company stock valued at $984,169 over the last ninety days.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th were paid a $0.25 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Monday, November 19th. Manulife Financial’s dividend payout ratio (DPR) is presently 70.79%.

Manulife Financial Company Profile

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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