Manulife Financial (TSE:MFC) Given a C$57.00 Price Target at National Bank Financial

Key Points

• National Bank Financial set a C$57.00 price target and an "outperform" rating on Manulife, implying roughly a 7.20% upside from the prior close.
• Analyst consensus is positive with one Strong Buy, six Buys and one Hold, an average rating of "Buy" and an average price target of C$56.63.
• Manulife recently traded at C$53.17, has a market cap of about C$88.91 billion and a P/E of 17.32, and reported C$1.12 EPS for the most recent quarter.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC has been given a C$57.00 price objective by equities research analysts at National Bank Financial in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price objective would suggest a potential upside of 7.20% from the company's previous close.

Several other equities analysts also recently commented on MFC. Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the company a "buy" rating in a report on Friday, April 17th. TD Securities decreased their price objective on shares of Manulife Financial from C$60.00 to C$59.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Royal Bank Of Canada upped their price objective on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Jefferies Financial Group upped their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Finally, Scotiabank upped their price target on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$56.63.

Manulife Financial Stock Performance

Shares of TSE:MFC traded up C$0.20 on Friday, hitting C$53.17. The company had a trading volume of 884,472 shares, compared to its average volume of 5,823,305. Manulife Financial has a 1-year low of C$41.08 and a 1-year high of C$53.60. The stock has a market cap of C$88.91 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.01 and a beta of 0.71. The stock has a 50 day moving average price of C$48.86 and a 200 day moving average price of C$48.80. The company has a current ratio of 2.12, a quick ratio of 2.58 and a debt-to-equity ratio of 28.80.

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

Insiders Place Their Bets

In related news, Director Adam Thomas Wise sold 3,500 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the completion of the sale, the director owned 2,497 shares of the company's stock, valued at C$116,035.59. This represents a 58.36% decrease in their ownership of the stock. 0.03% of the stock is owned by corporate 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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