Manulife Financial Co. (TSE:MFC) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Consensus "Buy": Eight analysts cover Manulife with a consensus rating of Buy (six Buy, one Strong Buy, one Hold) and an average 12‑month price target of C$56.63, with several brokerages recently raising targets or upgrading the stock.
• Recent results & valuation: Manulife reported Q EPS of C$1.12 and revenue of C$22.03 billion, with a market cap of C$87.7 billion and a P/E of about 17.1.
• Dividend yield: The company pays a quarterly dividend of C$0.485 (annualized C$1.94), implying a yield of ~3.7% and a payout ratio of roughly 57.3%.

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have earned a consensus rating of "Buy" from the eight analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$56.63.

A number of equities research analysts recently commented on the company. Desjardins set a C$58.00 target price on Manulife Financial and gave the company a "buy" rating in a research report on Friday, April 17th. Scotiabank upped their target price on Manulife Financial from C$55.00 to C$56.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Jefferies Financial Group upped their target price on Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. Barclays upped their target price on Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, January 9th. Finally, Canadian Imperial Bank of Commerce upgraded Manulife Financial from a "hold" rating to an "outperform" rating and upped their target price for the company from C$50.00 to C$58.00 in a research report on Thursday, January 8th.

Insider Buying and Selling

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the sale, the director owned 2,497 shares in the company, valued at approximately C$116,035.59. This represents a 58.36% decrease in their position. Corporate insiders own 0.03% of the company's stock.

Manulife Financial Price Performance

Shares of TSE MFC opened at C$52.45 on Tuesday. The business's 50 day moving average price is C$49.12 and its 200 day moving average price is C$49.13. The firm has a market cap of C$87.71 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.01 and a beta of 0.71. Manulife Financial has a 52 week low of C$41.08 and a 52 week high of C$53.86. The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. The firm had revenue of C$22.03 billion for the quarter. Manulife Financial had a return on equity of 11.34% and a net margin of 10.91%. On average, sell-side analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, February 25th. Manulife Financial's dividend payout ratio is currently 57.33%.

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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