Manulife Financial Co. (TSE:MFC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Manulife Financial Co. (TSE:MFCGet Free Report) (NYSE:MFC) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$37.30.

A number of analysts recently weighed in on MFC shares. BMO Capital Markets lifted their price target on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. National Bank Financial raised shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research note on Wednesday, May 8th. Scotiabank raised 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. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from C$29.00 to C$36.00 in a research report on Friday, February 16th. Finally, TD Securities increased their target price on shares of Manulife Financial from C$37.00 to C$38.00 and gave the company a “buy” rating in a report on Thursday, May 9th.

Get Our Latest Stock Report on MFC

Manulife Financial Price Performance

Shares of TSE MFC opened at C$35.32 on Tuesday. The stock has a fifty day moving average price of C$33.76 and a 200 day moving average price of C$31.17. Manulife Financial has a 1-year low of C$23.69 and a 1-year high of C$36.61. The company has a debt-to-equity ratio of 48.44, a current ratio of 29.14 and a quick ratio of 2.58. The company has a market cap of C$63.58 billion, a PE ratio of 15.49, a P/E/G ratio of 12.56 and a beta of 1.10.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last released its earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.90 by C$0.04. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. The company had revenue of C$12.80 billion during the quarter, compared to analysts’ expectations of C$12.13 billion. Sell-side analysts forecast that Manulife Financial will post 3.6078629 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Tuesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 70.18%.

Insiders Place Their Bets

In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. In related news, Director Rocco Gori sold 48,640 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total value of C$1,714,560.00. Also, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total value of C$409,293.42. 0.02% of the stock is currently owned by company insiders.

About Manulife Financial

(Get Free Report

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.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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