Cormark Research Analysts Cut Earnings Estimates for TSE:MFC

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Equities researchers at Cormark decreased their FY2025 earnings estimates for Manulife Financial in a report released on Thursday, May 8th. Cormark analyst L. Persaud now expects that the financial services provider will earn $4.15 per share for the year, down from their prior forecast of $4.16. The consensus estimate for Manulife Financial’s current full-year earnings is $3.61 per share.

A number of other equities research analysts have also issued reports on the stock. National Bankshares dropped their target price on shares of Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Scotiabank dropped their target price on shares of Manulife Financial from C$53.00 to C$50.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. CIBC dropped their target price on shares of Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Jefferies Financial Group dropped their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. Finally, TD Securities upped their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$48.00.

Manulife Financial Stock Up 0.1%

Manulife Financial stock opened at C$44.28 on Monday. Manulife Financial has a 52-week low of C$32.87 and a 52-week high of C$46.42. The firm has a market capitalization of C$77.67 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.01 and a beta of 1.06. The company has a fifty day simple moving average of C$42.12 and a 200-day simple moving average of C$43.22.

Insider Activity

In related news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$503,646.63. Also, Director Brooks Tingle sold 3,866 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$167,882.21. Over the last quarter, insiders sold 21,298 shares of company stock valued at $932,208. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Wednesday, May 21st. Manulife Financial’s payout ratio is 49.79%.

About Manulife Financial

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.