Manulife Financial (TSE:MFC) Hits New 12-Month High on Analyst Upgrade

Manulife Financial Co. (TSE:MFCGet Free Report) (NYSE:MFC) hit a new 52-week high on Tuesday after Scotiabank raised their price target on the stock from C$30.00 to C$35.00. Scotiabank currently has an outperform rating on the stock. Manulife Financial traded as high as C$29.98 and last traded at C$29.93, with a volume of 1068475 shares traded. The stock had previously closed at C$29.58.

A number of other analysts also recently commented on MFC. CIBC upgraded Manulife Financial from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from C$28.00 to C$30.00 in a research report on Wednesday, January 31st. TD Securities boosted their target price on Manulife Financial from C$32.00 to C$33.00 and gave the stock an “action list buy” rating in a research report on Thursday, November 9th. Evercore boosted their target price on Manulife Financial from C$26.00 to C$30.00 and gave the stock an “in-line” rating in a research report on Tuesday, January 23rd. National Bankshares boosted their target price on Manulife Financial from C$28.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 23rd. Finally, Cormark boosted their target price on Manulife Financial from C$29.00 to C$31.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to, the stock currently has an average rating of “Hold” and a consensus target price of C$31.18.

Check Out Our Latest Stock Report on Manulife Financial

Insider Activity at Manulife Financial

In related news, Senior Officer Steve Finch sold 10,295 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of C$25.97, for a total value of C$267,335.41. Insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

The company has a market capitalization of C$55.04 billion, a price-to-earnings ratio of 4.34, a price-to-earnings-growth ratio of 11.85 and a beta of 1.09. The company has a quick ratio of 2.58, a current ratio of 22.91 and a debt-to-equity ratio of 56.70. The company has a 50 day simple moving average of C$28.70 and a 200 day simple moving average of C$26.50.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, November 8th. The financial services provider reported C$0.92 EPS for the quarter, topping the consensus estimate of C$0.82 by C$0.10. The company had revenue of C$9.32 billion during the quarter, compared to analyst estimates of C$14.82 billion. Manulife Financial had a return on equity of 26.37% and a net margin of 70.18%. As a group, research analysts predict that Manulife Financial Co. will post 3.6332518 EPS for the current year.

Manulife Financial Company Profile

(Get Free Report)

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 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.

Further Reading

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