Manulife Financial Corp. to Post Q1 2018 Earnings of $0.67 Per Share, Cormark Forecasts (MFC)
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) – Research analysts at Cormark lifted their Q1 2018 earnings per share (EPS) estimates for Manulife Financial in a research note issued on Thursday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $0.67 per share for the quarter, up from their previous forecast of $0.64. Cormark also issued estimates for Manulife Financial’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.68 EPS and FY2018 earnings at $2.70 EPS.
Several other research firms have also issued reports on MFC. National Bank Financial boosted their price target on shares of Manulife Financial from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Thursday, November 9th. Barclays upped their target price on shares of Manulife Financial from C$29.00 to C$30.00 in a report on Monday, November 13th. Desjardins upped their target price on shares of Manulife Financial from C$28.00 to C$30.00 in a report on Monday, November 13th. Scotiabank upped their target price on shares of Manulife Financial from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, Royal Bank of Canada upped their target price on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Manulife Financial has a consensus rating of “Buy” and an average price target of C$28.92.
Shares of Manulife Financial (MFC) opened at C$26.22 on Monday. Manulife Financial has a 12-month low of C$22.39 and a 12-month high of C$27.54. The stock has a market cap of $52,040.00, a P/E ratio of 14.41 and a beta of 0.98.
In related news, Director Rocco Gori purchased 60,694 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of C$26.70 per share, with a total value of C$1,620,529.80. Also, insider Warren A. Thomson sold 11,300 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of C$26.71, for a total transaction of C$301,823.00.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 43.96%.
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About Manulife Financial
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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