Manulife Financial (TSE:MFC – Get Rating) (NYSE:MFC) had its price target upped by equities research analysts at CSFB from C$25.00 to C$27.00 in a research report issued on Thursday, BayStreet.CA reports. CSFB's price objective would suggest a potential upside of 2.94% from the company's current price.
Other equities analysts have also issued reports about the company. CIBC raised their target price on Manulife Financial from C$23.00 to C$27.00 in a report on Wednesday, January 25th. Evercore ISI dropped their price objective on Manulife Financial to C$24.00 and set a "hold" rating on the stock in a research note on Monday, October 31st. Barclays dropped their price objective on Manulife Financial from C$29.00 to C$28.00 in a research note on Friday, November 11th. Canaccord Genuity Group lifted their price objective on Manulife Financial from C$23.50 to C$24.50 in a research note on Friday, November 11th. Finally, National Bankshares lifted their price objective on Manulife Financial from C$24.00 to C$26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 25th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$27.05.
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Manulife Financial Stock Performance
Shares of Manulife Financial stock opened at C$26.23 on Thursday. The stock has a market cap of C$49.18 billion and a PE ratio of 6.99. The business has a fifty day simple moving average of C$24.75 and a 200-day simple moving average of C$23.47. The company has a quick ratio of 2.58, a current ratio of 7.04 and a debt-to-equity ratio of 44.70. Manulife Financial has a 12 month low of C$20.81 and a 12 month high of C$28.09.
Manulife Financial (TSE:MFC – Get Rating) (NYSE:MFC) last posted its earnings results on Wednesday, November 9th. The financial services provider reported C$0.67 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.05). The business had revenue of C$7.78 billion during the quarter, compared to the consensus estimate of C$14.74 billion. On average, sell-side analysts anticipate that Manulife Financial will post 3.2699999 EPS for the current fiscal year.
Insider Activity
In related news, Senior Officer Steve Finch sold 13,926 shares of the firm's stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of C$23.43, for a total transaction of C$326,340.49. Following the completion of the transaction, the insider now owns 17,618 shares in the company, valued at approximately C$412,858.45. In other Manulife Financial news, Senior Officer Steve Finch sold 13,926 shares of Manulife Financial stock in a transaction on Monday, November 14th. The stock was sold at an average price of C$23.43, for a total transaction of C$326,340.49. Following the completion of the transaction, the insider now directly owns 17,618 shares of the company's stock, valued at C$412,858.45. Also, Director Simonetta Vendittelli sold 3,090 shares of Manulife Financial stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of C$23.58, for a total value of C$72,867.86. Following the transaction, the director now directly owns 1,079 shares of the company's stock, valued at C$25,444.80.
About Manulife Financial
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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.
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