Manulife Financial (MFC) Price Target Raised to C$26.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by equities research analysts at National Bank Financial from C$25.00 to C$26.00 in a research report issued on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective would suggest a potential upside of 6.17% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity raised their price target on Manulife Financial from C$30.00 to C$31.00 in a research note on Monday. Eight Capital raised their price target on Manulife Financial from C$27.00 to C$28.00 in a research note on Friday. Desjardins raised their price target on Manulife Financial from C$27.00 to C$28.00 in a research note on Monday, April 15th. Finally, TD Securities cut their price target on Manulife Financial from C$30.00 to C$29.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$28.15.

MFC stock traded down C$0.04 during trading hours on Monday, hitting C$24.49. 2,165,470 shares of the stock traded hands, compared to its average volume of 5,051,608. Manulife Financial has a one year low of C$18.33 and a one year high of C$25.20. The stock has a market capitalization of $48.18 billion and a P/E ratio of 10.51. The company has a quick ratio of 1.88, a current ratio of 4.96 and a debt-to-equity ratio of 40.97.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, February 13th. The financial services provider reported C$0.65 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.66 by C($0.01). The business had revenue of C$8.51 billion during the quarter. On average, sell-side analysts anticipate that Manulife Financial will post 3.13000008102528 earnings per share for the current year.

In related news, Senior Officer Steve Finch sold 1,407 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of C$21.53, for a total value of C$30,295.95. Following the transaction, the insider now directly owns 6,214 shares of the company’s stock, valued at approximately C$133,801.71. Also, Director Brian Collins sold 2,937 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of C$21.53, for a total value of C$63,240.37.

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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