Manulife Financial Co. (TSE:MFC) Stock Has Average Price Target of C$65.91 According to Analysts

Key Points

• Analysts are broadly bullish on Manulife Financial: Eleven brokerages give the stock a “Moderate Buy” consensus, with ten buy ratings and an average 12-month price target of C$65.91.
• Several firms recently raised their targets, including Jefferies and BMO Capital Markets to C$70, while TD lifted its target to C$67.
• Manulife reported quarterly EPS of C$1.09 on C$20.34 billion in revenue and pays a quarterly dividend of C$0.485, equivalent to a 3.1% yield and C$1.94 annualized.

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have been given an average rating of "Moderate Buy" by the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$65.91.

Several analysts have issued reports on MFC shares. Scotiabank raised their price target on shares of Manulife Financial from C$56.00 to C$61.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, July 15th. TD boosted their price objective on Manulife Financial from C$65.00 to C$67.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Jefferies Financial Group boosted their price objective on Manulife Financial from C$61.00 to C$70.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. BMO Capital Markets increased their price target on shares of Manulife Financial from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Finally, Desjardins raised their price target on shares of Manulife Financial from C$63.00 to C$68.00 and gave the stock a "buy" rating in a research note on Friday, August 7th.

Insider Activity

In other news, insider Patrick David Graham sold 6,843 shares of the 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. Insiders own 0.03% of the company's stock.

Manulife Financial Price Performance

TSE MFC opened at C$62.59 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52. Manulife Financial has a 1 year low of C$44.23 and a 1 year high of C$63.98. The company has a fifty day simple moving average of C$60.94 and a 200 day simple moving average of C$55.26. The company has a market cap of C$103.54 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.01 and a beta of 0.59.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. The business had revenue of C$20.34 billion for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. On average, sell-side analysts predict that Manulife Financial will post 3.61 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 21st were paid a $0.4850 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 21st. Manulife Financial's dividend payout ratio is currently 50.14%.

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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