Manulife Financial (TSE:MFC) Stock Gets Price Target Bump from TD

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by investment analysts at TD from C$69.00 to C$72.00 in a note issued to investors on Thursday, BayStreet reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD‘s price objective suggests a potential upside of 18.03% from the company’s previous close.

Several other research analysts have also issued reports on MFC. National Bank Financial dropped their price target on shares of Manulife Financial from C$69.00 to C$68.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Royal Bank Of Canada upped their price objective on Manulife Financial from C$55.00 to C$67.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Barclays increased their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Scotiabank downgraded Manulife Financial from a “sector outperform” rating to a “hold” rating and set a C$67.00 target price for the company. in a research report on Wednesday, October 28th. Finally, BMO Capital Markets boosted their price target on Manulife Financial from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$67.00.

Manulife Financial Stock Performance

MFC stock traded down C$0.63 during midday trading on Thursday, hitting C$61.00. The stock had a trading volume of 8,202,669 shares, compared to its average volume of 5,766,087. The firm has a market capitalization of C$100.77 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.01 and a beta of 0.53. Manulife Financial has a 52 week low of C$44.23 and a 52 week high of C$64.60. The stock has a 50-day simple moving average of C$61.46 and a 200 day simple moving average of C$55.82. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The firm had revenue of C$20.34 billion for the quarter. As a group, equities research analysts anticipate that Manulife Financial will post 3.61 earnings per share for the current year.

Insider Activity

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of C$62.06, for a total transaction of C$424,676.58. 0.03% of the stock is owned by company insiders.

Manulife Financial Company Profile

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.