Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) – Research analysts at Cormark dropped their Q1 2018 EPS estimates for shares of Manulife Financial in a research report issued on Friday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings per share of $0.66 for the quarter, down from their prior forecast of $0.67. Cormark also issued estimates for Manulife Financial’s Q2 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.70 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.73 EPS and Q4 2019 earnings at $0.74 EPS.
Other equities analysts have also recently issued reports about the stock. CSFB raised their target price on shares of Manulife Financial from C$28.00 to C$31.00 in a research note on Wednesday, November 1st. Barclays raised their target price on shares of Manulife Financial from C$29.00 to C$30.00 in a research note on Monday, November 13th. Desjardins raised their target price on shares of Manulife Financial from C$28.00 to C$30.00 in a research note on Monday, November 13th. TD Securities lifted their price objective on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. Finally, Scotiabank dropped their price objective on shares of Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of C$30.25.
In other Manulife Financial news, Director Rocco Gori acquired 60,694 shares of the company’s stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of C$26.70 per share, with a total value of C$1,620,529.80. Also, Director P. Thomas Jenkins sold 4,500 shares of Manulife Financial stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$21.09, for a total transaction of C$94,905.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st will be paid a $0.22 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, February 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 83.67%.
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Manulife Financial Company Profile
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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