Desjardins Comments on Manulife Financial Co.’s FY2017 Earnings (NYSE:MFC)

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Equities research analysts at Desjardins boosted their FY2017 earnings estimates for Manulife Financial in a research note issued to investors on Wednesday, Zacks Investment Research reports. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $1.79 per share for the year, up from their prior forecast of $1.77. Desjardins also issued estimates for Manulife Financial’s Q4 2017 earnings at $0.44 EPS, FY2018 earnings at $2.01 EPS and FY2019 earnings at $2.17 EPS.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $9.52 billion for the quarter.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday. National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, Scotiabank restated a “buy” rating and set a $31.00 target price on shares of Manulife Financial in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.00.

Shares of Manulife Financial (NYSE MFC) traded down $0.77 on Thursday, reaching $20.33. The company’s stock had a trading volume of 4,027,808 shares, compared to its average volume of 2,245,819. The firm has a market cap of $41,753.63, a P/E ratio of 14.52, a P/E/G ratio of 1.08 and a beta of 1.28. Manulife Financial has a 12 month low of $16.62 and a 12 month high of $22.16.

Several large investors have recently bought and sold shares of MFC. Neuberger Berman Group LLC grew its position in shares of Manulife Financial by 5.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 63,345 shares of the financial services provider’s stock valued at $1,188,000 after acquiring an additional 3,331 shares during the period. Schroder Investment Management Group grew its position in shares of Manulife Financial by 223.7% during the 2nd quarter. Schroder Investment Management Group now owns 632,010 shares of the financial services provider’s stock valued at $16,673,000 after acquiring an additional 436,770 shares during the period. Private Advisor Group LLC grew its position in shares of Manulife Financial by 7.5% during the 2nd quarter. Private Advisor Group LLC now owns 20,628 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,441 shares during the period. Franklin Resources Inc. grew its position in shares of Manulife Financial by 9.2% during the 2nd quarter. Franklin Resources Inc. now owns 424,074 shares of the financial services provider’s stock valued at $7,954,000 after acquiring an additional 35,707 shares during the period. Finally, AXA grew its position in shares of Manulife Financial by 9.0% during the 2nd quarter. AXA now owns 188,098 shares of the financial services provider’s stock valued at $3,529,000 after acquiring an additional 15,498 shares during the period. Hedge funds and other institutional investors own 46.23% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Desjardins Comments on Manulife Financial Co.’s FY2017 Earnings (NYSE:MFC)” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/03/fy2017-eps-estimates-for-manulife-financial-co-boosted-by-desjardins-mfc.html.

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.

Get a free copy of the Zacks research report on Manulife Financial (MFC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply