Manulife Financial Co. (TSE:MFC) Receives C$66.00 Consensus Target Price from Analysts

by · The Cerbat Gem

Manulife Financial Co. (TSE:MFC – Get Free Report) (NYSE:MFC) has received a consensus rating of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$66.00.

A number of equities analysts have commented on MFC shares. Desjardins lifted their price objective on shares of Manulife Financial from C$63.00 to C$68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. BMO Capital Markets raised their price target on shares of Manulife Financial from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Jefferies Financial Group lifted their price target on Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Royal Bank Of Canada raised their target price on shares of Manulife Financial from C$55.00 to C$67.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, TD increased their price target on Manulife Financial from C$65.00 to C$67.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

Get Our Latest Stock Report on MFC

Insiders Place Their Bets

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of Manulife Financial stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total transaction of C$424,676.58. Insiders own 0.03% of the company’s stock.

Manulife Financial Stock Performance

TSE:MFC opened at C$59.34 on Monday. Manulife Financial has a 1-year low of C$42.53 and a 1-year high of C$63.58. The firm has a 50-day moving average of C$60.44 and a two-hundred day moving average of C$54.77. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The stock has a market cap of C$98.32 billion, a P/E ratio of 16.08, a PEG ratio of 1.01 and a beta of 0.60.

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. The company had revenue of C$20.34 billion for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. On average, research analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 21st will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 21st. Manulife Financial’s payout ratio is presently 50.14%.

Manulife Financial Company Profile

(Get Free Report)

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.

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