Analysts' Revenue Estimates For Manulife Financial Corporation (TSE:MFC) Are Surging Higher

Manulife Financial Corporation (TSE:MFC) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that Manulife Financial will make substantially more sales than they'd previously expected.

Following the upgrade, the latest consensus from Manulife Financial's eleven analysts is for revenues of CA$67b in 2023, which would reflect a substantial 195% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing CA$45b of revenue in 2023. The consensus has definitely become more optimistic, showing a great increase in revenue forecasts.

See our latest analysis for Manulife Financial

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. One thing stands out from these estimates, which is that Manulife Financial is forecast to grow faster in the future than it has in the past, with revenues expected to display 8x annualised growth until the end of 2023. If achieved, this would be a much better result than the 11% annual decline over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 11% per year. Not only are Manulife Financial's revenues expected to improve, it seems that the analysts are also expecting it to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. Analysts also expect revenues to grow faster than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Manulife Financial.

But wait - there's more! We have analyst estimates for Manulife Financial going out to 2025, and you can see them free on our platform here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.