Q3 2017 Earnings Forecast for Manulife Financial Corp. (MFC) Issued By Desjardins
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) – Research analysts at Desjardins lowered their Q3 2017 earnings estimates for Manulife Financial Corp. in a research report issued to clients and investors on Tuesday. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $0.52 for the quarter, down from their prior forecast of $0.53. Desjardins also issued estimates for Manulife Financial Corp.’s Q4 2017 earnings at $0.54 EPS.
Other analysts have also recently issued research reports about the stock. Barclays PLC raised their price objective on shares of Manulife Financial Corp. from C$28.00 to C$29.00 in a report on Wednesday, July 12th. BMO Capital Markets reissued an “outperform” rating and set a C$30.00 price objective on shares of Manulife Financial Corp. in a report on Wednesday. Royal Bank Of Canada raised their price objective on shares of Manulife Financial Corp. from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Finally, National Bank Financial raised their price objective on shares of Manulife Financial Corp. from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Manulife Financial Corp. currently has an average rating of “Buy” and an average price target of C$26.92.
Shares of Manulife Financial Corp. (TSE MFC) opened at 25.91 on Thursday. The stock has a market cap of $51.25 billion and a P/E ratio of 14.15. Manulife Financial Corp. has a 52-week low of $18.83 and a 52-week high of $26.11. The firm’s 50-day moving average is $24.70 and its 200 day moving average is $24.33.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd were issued a $0.205 dividend. The ex-dividend date was Friday, August 18th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.16%.
In other news, insider Marianne Harrison sold 3,703 shares of Manulife Financial Corp. stock in a transaction on Monday, September 18th. The shares were sold at an average price of C$24.26, for a total value of C$89,834.78.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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