Manulife Financial (TSE:MFC) Upgraded at National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) was upgraded by research analysts at National Bank Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report issued on Wednesday, Zacks.com reports. National Bank Financial also issued estimates for Manulife Financial’s Q2 2024 earnings at $0.88 EPS, Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.66 EPS and FY2025 earnings at $4.07 EPS.

Several other analysts also recently issued reports on the company. Evercore boosted their price objective on Manulife Financial from C$30.00 to C$36.00 in a report on Tuesday, February 20th. Veritas Investment Research restated a “reduce” rating on shares of Manulife Financial in a research report on Friday, February 16th. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$29.00 to C$36.00 in a research report on Friday, February 16th. CIBC increased their target price on Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, Cormark upgraded Manulife Financial from a “market perform” rating to a “buy” rating and lifted their price target for the company from C$33.00 to C$36.00 in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$36.90.

Manulife Financial Trading Up 4.7 %

Manulife Financial stock opened at C$35.19 on Wednesday. The firm has a market cap of C$63.34 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. Manulife Financial has a 1 year low of C$23.69 and a 1 year high of C$35.26. The firm’s 50 day moving average price is C$32.61 and its two-hundred day moving average price is C$29.76. The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The business had revenue of C$14.92 billion for the quarter, compared to analysts’ expectations of C$10.24 billion. On average, research analysts predict that Manulife Financial will post 3.6797312 EPS for the current fiscal year.

Insider Transactions at Manulife Financial

In related news, Senior Officer Steve Finch sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$108,664.92. Company insiders own 0.02% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.