Manulife Financial Co. to Post Q3 2018 Earnings of $0.65 Per Share, Desjardins Forecasts (MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Stock analysts at Desjardins upped their Q3 2018 earnings per share (EPS) estimates for Manulife Financial in a report released on Monday, October 15th. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $0.65 per share for the quarter, up from their prior forecast of $0.62. Desjardins also issued estimates for Manulife Financial’s FY2018 earnings at $2.57 EPS.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, August 8th. The financial services provider reported C$0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.65 by C$0.05. Manulife Financial had a negative net margin of 7.55% and a negative return on equity of 12.24%. The company had revenue of C$13.67 billion during the quarter.

MFC has been the subject of several other research reports. National Bank Financial decreased their price target on shares of Manulife Financial from C$30.00 to C$27.00 and set an “outperform” rating for the company in a report on Friday, October 5th. Canaccord Genuity set a C$29.00 price target on shares of Manulife Financial and gave the company a “buy” rating in a report on Tuesday, July 24th. Seven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of C$29.40.

Shares of MFC stock opened at C$20.86 on Thursday. Manulife Financial has a 12-month low of C$19.63 and a 12-month high of C$27.77.

In related news, Director Michael James Doughty sold 18,129 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total value of C$437,634.06. Also, insider Lynda Sullivan sold 5,754 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total transaction of C$138,901.56. Insiders sold a total of 45,883 shares of company stock valued at $1,111,136 in the last three months.

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.

See Also: Diversification

Earnings History and Estimates for Manulife Financial (TSE:MFC)

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