Manulife Financial (NYSE:MFC) (TSE:MFC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.25, Briefing.com reports. The business had revenue of $6.15 billion during the quarter. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. During the same quarter last year, the company posted $0.53 EPS.
Shares of NYSE:MFC traded down $0.13 on Friday, hitting $16.85. 119,709 shares of the company traded hands, compared to its average volume of 3,898,550. Manulife Financial has a 52 week low of $14.99 and a 52 week high of $22.16. The company has a market capitalization of $32.65 billion, a PE ratio of 9.86, a PEG ratio of 0.81 and a beta of 1.31.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 19th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 4.51%. Manulife Financial’s dividend payout ratio (DPR) is presently 39.77%.
A number of equities analysts have issued reports on MFC shares. TheStreet downgraded Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. Desjardins reiterated a “buy” rating on shares of Manulife Financial in a report on Tuesday, October 16th. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, October 5th. ValuEngine downgraded Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Finally, TD Securities restated a “buy” rating on shares of Manulife Financial in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.67.
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Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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