Manulife Financial Co. (TSE:MFC) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Analysts are broadly bullish on Manulife Financial: Twelve brokerages give the stock a consensus “Buy” rating, with ten buys, one strong buy, and one hold. The average 12-month price target is C$66.00.
• Recent broker updates raised price targets to between C$59.00 and C$69.00, while Manulife reported quarterly EPS of C$1.09 on C$20.34 billion in revenue.
• Manulife declared a quarterly dividend of C$0.485, equivalent to C$1.94 annually and a 3.2% yield, with a payout ratio of 50.14%.

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have received an average recommendation of "Buy" from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$66.00.

MFC has been the topic of several research analyst reports. Royal Bank Of Canada raised their target price on Manulife Financial from C$55.00 to C$67.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. TD upped their price target on Manulife Financial from C$65.00 to C$67.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Desjardins increased their price target on shares of Manulife Financial from C$63.00 to C$68.00 and gave the company a "buy" rating in a research note on Friday, August 7th. National Bank Financial raised their price objective on shares of Manulife Financial from C$59.00 to C$69.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, Barclays boosted their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th.

Manulife Financial Stock Performance

TSE:MFC opened at C$61.34 on Monday. Manulife Financial has a 12 month low of C$42.15 and a 12 month high of C$63.58. 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 firm has a market capitalization of C$101.63 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. The business's fifty day moving average price is C$60.28 and its 200 day moving average price is C$54.56.

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. The company had revenue of C$20.34 billion during the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. On average, sell-side analysts anticipate that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 21st will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a yield of 3.2%. Manulife Financial's payout ratio is 50.14%.

Insiders Place Their Bets

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of the firm's stock in a transaction dated 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.

Manulife Financial Company Profile

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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