Manulife Financial (TSE:MFC) Raised to “Outperform Market Weight” at National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) was upgraded by research analysts at National Bank Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a note issued to investors on Wednesday, Zacks.com reports. National Bank Financial also issued estimates for Manulife Financial’s Q2 2024 earnings at $0.88 EPS, Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.66 EPS and FY2025 earnings at $4.07 EPS.

A number of other brokerages have also weighed in on MFC. Veritas Investment Research reiterated a “reduce” rating on shares of Manulife Financial in a research report on Friday, February 16th. Scotiabank lifted their price objective on shares of Manulife Financial from C$35.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. National Bankshares upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$34.00 to C$38.00 in a research report on Thursday. Cormark raised Manulife Financial from a “market perform” rating to a “buy” rating and raised their price target for the stock from C$33.00 to C$36.00 in a report on Friday, February 16th. Finally, CIBC boosted their price objective on Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.90.

Manulife Financial Trading Up 4.7 %

TSE:MFC opened at C$35.19 on Wednesday. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$35.26. The firm has a 50-day moving average price of C$32.61 and a two-hundred day moving average price of C$29.76. The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79. The firm has a market cap of C$63.34 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.08. The business had revenue of C$14.92 billion for the quarter, compared to the consensus estimate of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. On average, equities analysts expect that Manulife Financial will post 3.6797312 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brooks Tingle sold 3,317 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. Corporate insiders own 0.02% of the company’s stock.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.