National Bank Financial Issues Positive Forecast for Manulife Financial (TSE:MFC) Stock Price

Key Points

• National Bank Financial raised its price target on Manulife Financial from C$68 to C$69 and maintained an “outperform” rating, implying about 10.7% upside from the prior close.
• Analyst sentiment is broadly positive: nine analysts rate the stock Buy and two rate it Hold, for a “Moderate Buy” consensus and an average target of C$67.
• Manulife shares fell 2.8% to C$62.35 on Thursday. The company last reported quarterly EPS of C$1.09 on revenue of C$20.34 billion.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price objective increased by National Bank Financial from C$68.00 to C$69.00 in a note issued to investors on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price target suggests a potential upside of 10.67% from the company's previous close.

Several other research firms also recently weighed in on MFC. BMO Capital Markets lifted their target price on shares of Manulife Financial from C$67.00 to C$70.00 and gave the company an "outperform" rating in a report on Friday, August 7th. TD raised their target price on Manulife Financial from C$69.00 to C$72.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank Of Canada raised their target price on Manulife Financial from C$55.00 to C$67.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Scotiabank downgraded Manulife Financial from a "sector outperform" rating to a "hold" rating and set a C$67.00 target price for the company. in a research report on Wednesday, October 28th. Finally, Barclays boosted their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$67.00.

Manulife Financial Trading Down 2.8%

Shares of MFC traded down C$1.82 during trading on Thursday, reaching C$62.35. 2,790,044 shares of the company traded hands, compared to its average volume of 5,735,612. Manulife Financial has a twelve month low of C$44.23 and a twelve month high of C$64.60. The stock has a market cap of C$103.15 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.59. The stock has a 50-day simple moving average of C$61.40 and a 200-day simple moving average of 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 (TSE:MFC - Get Free Report) NYSE: MFC last released 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 business had revenue of C$20.34 billion for the quarter. On average, analysts anticipate that Manulife Financial will post 3.61 earnings per share for the current year.

Insider Activity at Manulife Financial

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

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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