Manulife Financial Corp
MFC: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 46.00 | Vrvfw | Njqzbhzq |
Manulife Sees Some Headwinds in Third Quarter
Manulife had a soft third quarter. Core earnings per share were CAD 0.67, down from CAD 0.76 in the year-ago period and below the FactSet consensus estimate of CAD 0.78. Due to Hurricane Ian, Manulife took an elevated charge for its reinsurance business, something similar to what we saw at peer Great-West. We will maintain our no-moat rating and CAD 27 fair value estimate for Manulife.