Q: Hi 5i Team,
Pls comment on Manulife earning.
Thanks.
Pls comment on Manulife earning.
Thanks.
5i Research Answer:
EPS of $1.12 beat estimates if $1.06; revenue was $15.56B. The dividend was increased 11%. Results were a bit mixed as key growth segments in Asia and wealth management did well, but new business trends were softer in Asia. Analysts focused on the lack of new initiatives and a no new developments in MFC's outlook. The quarter was not bad, but analysts expected more robust commentary and developments for more growth. The stock is very cheap at 10x earnings and still up 20% in a year. We remain comfortable.