RBC Capital Initiates Coverage on Manulife Financial (MFC)
Research analysts at RBC Capital initiated coverage on shares of Manulife Financial (NYSE:MFC) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $23.00 price target on the stock. RBC Capital’s target price suggests a potential upside of 18.56% from the company’s current price.
A number of other firms have also recently commented on MFC. Analysts at Zacks reiterated a “neutral” rating on shares of Manulife Financial in a research note to investors on Friday, December 13th. They now have a $19.00 price target on the stock. Separately, analysts at Desjardins initiated coverage on shares of Manulife Financial in a research note to investors on Thursday, December 12th. They set a “buy” rating on the stock. Finally, analysts at TD Securities initiated coverage on shares of Manulife Financial in a research note to investors on Friday, October 25th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.25.
Shares of Manulife Financial (NYSE:MFC) traded up 1.13% during mid-day trading on Friday, hitting $19.62. The stock had a trading volume of 596,055 shares. Manulife Financial has a one year low of $13.43 and a one year high of $19.89. The stock has a 50-day moving average of $19.12 and a 200-day moving average of $17.56. The company has a market cap of $36.160 billion and a price-to-earnings ratio of 13.29.
Manulife Financial (NYSE:MFC) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.34 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 54.4% on a year-over-year basis.
Manulife Financial Corporation (NYSE:MFC) is a Canada-based financial services group serving customers in 22 countries and territories around the world.
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