Manulife Financial (TSE:MFC) Stock Price Expected to Rise, TD Analyst Says

Key Points

• TD raised its price target on Manulife Financial to C$72 from C$69 and maintained a Buy rating, implying 15.48% upside from the prior close.
• Analyst sentiment is broadly positive: nine analysts rate the stock Buy and two Hold, producing a Moderate Buy consensus and an average target of C$67.
• Manulife shares fell C$1.82 to C$62.35 in Thursday midday trading, despite trading above their 50-day and 200-day moving averages.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price target boosted by TD from C$69.00 to C$72.00 in a research report issued on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the financial services provider's stock. TD's target price suggests a potential upside of 15.48% from the stock's previous close.

A number of other analysts have also recently commented on the stock. National Bank Financial cut their price target on shares of Manulife Financial from C$69.00 to C$68.00 and set an "outperform" rating on the stock in a research report on Monday, October 19th. Scotia lifted their price objective on Manulife Financial from C$61.00 to C$67.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 7th. Desjardins lifted their price objective on Manulife Financial from C$63.00 to C$68.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce boosted their price objective on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Finally, BMO Capital Markets upped their target price on Manulife Financial from C$67.00 to C$70.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$67.00.

Manulife Financial Price Performance

Shares of TSE:MFC traded down C$1.82 during midday trading on Thursday, hitting C$62.35. The stock had a trading volume of 2,790,044 shares, compared to its average volume of 5,735,612. The company's 50-day moving average price is C$61.40 and its 200-day moving average price is C$55.72. The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52. Manulife Financial has a fifty-two week low of C$44.23 and a fifty-two week high of C$64.60. The company has a market capitalization of C$103.15 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.59.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The company had revenue of C$20.34 billion for the quarter. As a group, equities research analysts predict that Manulife Financial will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Patrick David Graham sold 6,843 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total value of C$424,676.58. Company insiders own 0.03% of the company's stock.

About Manulife Financial

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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