Manulife Financial (TSE:MFC) Given New C$59.00 Price Target at National Bank Financial

by · The Cerbat Gem

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) had its target price boosted by equities researchers at National Bank Financial from C$56.00 to C$59.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective suggests a potential upside of 14.21% from the stock’s current price.

Several other research firms have also recently weighed in on MFC. Royal Bank Of Canada lifted their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Desjardins set a C$58.00 price objective on Manulife Financial and gave the company a “buy” rating in a research report on Friday, April 17th. Scotiabank boosted their price target on Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. TD Securities dropped their price target on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Jefferies Financial Group boosted their price target on Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Manulife Financial currently has an average rating of “Buy” and a consensus price target of C$57.00.

Read Our Latest Stock Analysis on MFC

Manulife Financial Stock Down 5.4%

Manulife Financial stock traded down C$2.96 during trading hours on Thursday, hitting C$51.66. 5,664,713 shares of the stock traded hands, compared to its average volume of 5,979,166. The firm’s 50-day moving average price is C$49.90 and its two-hundred day moving average price is C$49.61. The company has a current ratio of 2.12, a quick ratio of 2.58 and a debt-to-equity ratio of 28.80. The company has a market cap of C$86.21 billion, a PE ratio of 16.83, a PEG ratio of 1.01 and a beta of 0.74. Manulife Financial has a one year low of C$41.08 and a one year high of C$55.34.

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. The business had revenue of C$2.15 billion for the quarter. Manulife Financial had a return on equity of 11.34% and a net margin of 10.91%. On average, research analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Activity at Manulife Financial

In other news, Director Adam Thomas Wise sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the sale, the director directly owned 2,497 shares of the company’s stock, valued at C$116,035.59. The trade was a 58.36% decrease in their position. 0.03% of the stock is currently owned by corporate insiders.

About Manulife Financial

(Get Free Report)

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.

See Also