RE:Can These Analysts Actually Read an Income StatementYes I did read them (and they beat the street, did you read that?). I guess if youve owned it for 4 straight years that may be a problem for some but they collected Approx $5.00 and aa rising divy's along way. Did you lose any money in the market since April? I guess you were sleeping as the market turned into a BEAR MARKET?? You do know what a bear mkt is right? Show me a bank or insurer that increased assest mgmt results yr over yr or qtr over qtr for this last qtr when the mkt goes bear r a 20% drop in the mkt.
Do you think insurance co.s that have been around for 100 yrs are to have growth rates like Goog Apple and amazon?
Some people model a portfolio that includes one or two steady and RISING dividend companies. I would suggest you look elsewhere if your not happy with MFC ; its a simple click of a button. Some just want the divy. So it was a dumb investment to buy MFC at $20 recently for a 6.25% yeild - are you crazy. Thats called money on the groung and all you have to do is pick it up.
Sell it and move on then.
DeanEdmonton wrote: These results absolutely SUCK! and yet analysts and many oe here think they are good. Did you actually read the results versus just the management commentary. Look at the performance over the past 4 years, not pretty.
Canada's largest life insurer reported core earnings of C$1.56 billion ($1.2 billion), or 78 Canadian cents a share, in the three months ended June 30, compared with C$1.68 billion, or 83 Canadian cents a share, a year earlier. Analysts had expected 76 cents a share.
Manulife reported core earnings declines of 14% in its global wealth and asset management unit as fee income and assets under management declined; 4.6% in its U.S. business on lower demand for some insurance products due to higher inflation; and 2.5% in Asia, on lower sales, particularly in Hong Kong and Japan.
An 8.5% increase in its Canadian earnings, lifted by growth in new business value, helped offset the declines somewhat.
Net income attributable to shareholders was C$1.09 billion or 53 Canadian cents per share, compared with C$2.65 billion, or C$1.33 a share, a year earlier.