Manulife Financial Corp (MFC) Expected to Post Earnings of $0.44 Per Share
Equities analysts expect that Manulife Financial Corp (NYSE:MFC) (TSE:MFC) will report earnings per share (EPS) of $0.44 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Manulife Financial Corp’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.46. Manulife Financial Corp reported earnings per share of $0.37 during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, November 8th.
According to Zacks, analysts expect that Manulife Financial Corp will report full year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.80. For the next year, analysts expect that the business will post earnings of $1.91 per share, with EPS estimates ranging from $1.82 to $1.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Manulife Financial Corp.
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the prior year, the company posted $0.40 EPS.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a report on Monday, July 10th. BidaskClub raised Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Morgan Stanley lifted their target price on Manulife Financial Corp from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, ValuEngine downgraded Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $24.50.
Manulife Financial Corp (NYSE MFC) opened at 20.23 on Monday. The firm’s 50-day moving average is $20.25 and its 200 day moving average is $19.05. Manulife Financial Corp has a 1-year low of $14.15 and a 1-year high of $20.89. The company has a market cap of $40.02 billion, a PE ratio of 13.42 and a beta of 1.29.
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Large investors have recently made changes to their positions in the business. Ropes Wealth Advisors LLC acquired a new position in Manulife Financial Corp in the second quarter valued at approximately $103,000. D.A. Davidson & CO. lifted its holdings in Manulife Financial Corp by 17.5% in the second quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,010 shares during the period. Pennsylvania Trust Co acquired a new position in Manulife Financial Corp in the second quarter valued at approximately $234,000. Sadoff Investment Management LLC acquired a new position in Manulife Financial Corp in the second quarter valued at approximately $188,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Manulife Financial Corp by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 2,103 shares during the period. 46.05% of the stock is owned by institutional investors.
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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