Manulife Financial (TSE:MFC) PT Raised to C$28.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by National Bank Financial from C$26.00 to C$28.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s target price would indicate a potential upside of 7.16% from the company’s current price.

Several other research firms have also recently weighed in on MFC. Evercore reduced their price target on Manulife Financial from C$24.50 to C$24.00 in a report on Thursday, August 8th. TD Securities boosted their price target on Manulife Financial from C$31.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday. Desjardins boosted their price target on Manulife Financial from C$29.00 to C$31.00 in a report on Friday. Evercore ISI reduced their price target on Manulife Financial from C$24.50 to C$24.00 in a report on Thursday, August 8th. Finally, BMO Capital Markets boosted their price target on Manulife Financial from C$32.00 to C$33.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$29.33.

Shares of TSE:MFC traded up C$0.35 during midday trading on Friday, hitting C$26.13. 4,772,517 shares of the stock were exchanged, compared to its average volume of 4,803,491. The stock has a market capitalization of $50.42 billion and a price-to-earnings ratio of 9.15. The company has a debt-to-equity ratio of 42.05, a quick ratio of 1.88 and a current ratio of 4.96. The business’s 50-day moving average price is C$24.27 and its 200 day moving average price is C$23.66. Manulife Financial has a 12 month low of C$18.33 and a 12 month high of C$26.44.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.72. The firm had revenue of C$22.20 billion for the quarter. As a group, sell-side analysts expect that Manulife Financial will post 3.1400002 EPS for the current year.

In related news, Senior Officer Steve Finch sold 14,257 shares of Manulife Financial stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$21.98, for a total value of C$313,357.45. Following the transaction, the insider now directly owns 6,214 shares of the company’s stock, valued at C$136,578.75. Also, Director Brian Collins sold 1,962 shares of Manulife Financial stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$21.98, for a total value of C$43,123.19.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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