Manulife Financial (NYSE:MFC) Issues Earnings Results

Manulife Financial (NYSE:MFC) (TSE:MFC) posted its earnings results on Wednesday. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30, Briefing.com reports. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.26% and a net margin of 9.79%. During the same quarter in the prior year, the company earned $0.69 EPS.

Manulife Financial Trading Down 1.5 %

MFC stock traded down $0.50 on Friday, hitting $31.79. The company’s stock had a trading volume of 1,458,066 shares, compared to its average volume of 1,286,677. The firm has a 50 day moving average of $29.39 and a two-hundred day moving average of $27.06. Manulife Financial has a 1 year low of $18.42 and a 1 year high of $32.94. The stock has a market cap of $55.92 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 56.04%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MFC. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays assumed coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $35.67.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.