Manulife Financial (TSE:MFC) Stock Gets Price Target Cut from National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price reduced by investment analysts at National Bank Financial from C$69.00 to C$68.00 in a note issued to investors on Monday, BayStreet reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target indicates a potential upside of 9.38% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on Manulife Financial from C$55.00 to C$67.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Desjardins lifted their price target on Manulife Financial from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce boosted their price target on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Barclays increased their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, BMO Capital Markets raised their price objective on Manulife Financial from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$65.91.

Manulife Financial Stock Performance

TSE:MFC traded down C$0.50 during trading hours on Monday, hitting C$62.17. 1,125,394 shares of the company were exchanged, compared to its average volume of 5,819,226. The stock has a market capitalization of C$102.85 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.01 and a beta of 0.59. Manulife Financial has a 52-week low of C$44.23 and a 52-week high of C$63.58. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The company’s 50 day moving average price is C$60.78 and its 200-day moving average price is C$57.43.

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

Insiders Place Their Bets

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of the 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. Corporate insiders own 0.03% of the company’s stock.

About Manulife Financial

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.