Manulife Financial Co. (TSE:MFC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Manulife Financial Co. (TSE:MFCGet Free Report) (NYSE:MFC) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$37.30.

A number of research firms recently weighed in on MFC. TD Securities increased their price objective on shares of Manulife Financial from C$37.00 to C$38.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Scotiabank increased their price objective on shares of Manulife Financial from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. CIBC increased their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. Evercore increased their price objective on shares of Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. Finally, Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating and raised their price target for the company from C$29.00 to C$36.00 in a research report on Friday, February 16th.

Check Out Our Latest Report on MFC

Insider Buying and Selling

In related news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. In related news, Senior Officer Steve Finch sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. Insiders own 0.02% of the company’s stock.

Manulife Financial Trading Up 1.0 %

Shares of MFC stock opened at C$35.50 on Friday. The company’s 50-day moving average price is C$32.79 and its 200-day moving average price is C$30.04. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. The stock has a market cap of C$63.90 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 12.56 and a beta of 1.09. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$35.72.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.08. The business had revenue of C$14.92 billion for the quarter, compared to the consensus estimate of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. As a group, equities analysts predict that Manulife Financial will post 3.6797312 earnings per share for the current year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.51%. Manulife Financial’s payout ratio is currently 61.30%.

About Manulife Financial

(Get Free Report

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.

Read More

Analyst Recommendations for Manulife Financial (TSE:MFC)

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.