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Equities Analysts Issue Forecasts for Manulife Financial Co.’s Q2 2019 (TSE:MFC)

Equities Analysts Issue Forecasts for Manulife Financial Co.’s Q2 2019 Earnings (TSE:MFC) Posted by Shane Hupp

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) – Analysts at Desjardins decreased their Q2 2019 earnings per share estimates for Manulife Financial in a research report issued on Monday, July 22nd. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $0.68 for the quarter, down from their prior forecast of $0.73. Desjardins also issued estimates for Manulife Financial’s Q3 2019 earnings at $0.72 EPS. Get Manulife Financial alerts:

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported C$0.76 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.07. The firm had revenue of C$23.55 billion during the quarter. A number of other equities analysts also recently commented on the company. Canaccord Genuity increased their price objective on TransAlta Renewables from C$12.50 to C$13.00 in a report on Monday, April 29th. Morgan Stanley set a $226.00 price target on S&P Global and gave the company a “hold” rating in a report on Friday, May 3rd. CIBC increased their price target on TransAlta from C$9.00 to C$10.00 in a report on Friday, May 3rd. National Bank Financial increased their price target on Sun Life Financial from C$55.00 to C$58.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Finally, Eight Capital increased their price target on Manulife Financial from C$28.00 to C$30.00 in a report on Friday, May 3rd.

TSE:MFC opened at C$24.51 on Tuesday. The stock has a 50 day moving average price of C$23.94. Manulife Financial has a 52 week low of C$18.33 and a 52 week high of C$25.18. The firm has a market capitalization of $47.90 billion and a P/E ratio of 8.96. The company has a quick ratio of 1.88, a current ratio of 4.96 and a debt-to-equity ratio of 39.39.

In other Manulife Financial news, Senior Officer Steve Finch sold 14,256 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of C$23.55, for a total transaction of C$335,764.44. Following the transaction, the insider now owns 6,214 shares in the company, valued at C$146,355.24. Also, Senior Officer Scott Hartz sold 18,151 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of C$23.11, for a total value of C$419,469.61. Following the transaction, the insider now owns 51,128 shares in the company, valued at approximately C$1,181,568.08. In the last quarter, insiders have sold 34,369 shares of company stock worth $801,444.

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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.