Manulife Financial (TSE:MFC) Stock Price Expected to Rise, CIBC Analyst Says

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its target price lifted by research analysts at CIBC from C$36.00 to C$42.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has a "neutral" rating on the financial services provider's stock. CIBC's price objective points to a potential upside of 0.31% from the company's current price.

A number of other research firms have also issued reports on MFC. Jefferies Financial Group lifted their price objective on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Scotiabank lifted their price target on shares of Manulife Financial from C$41.00 to C$48.00 and gave the stock an "outperform" rating in a research note on Wednesday. TD Securities upped their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada increased their target price on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$40.82.

Manulife Financial Stock Down 0.0 %

Manulife Financial stock traded down C$0.02 during trading on Wednesday, reaching C$41.87. 865,264 shares of the company's stock were exchanged, compared to its average volume of 6,360,135. Manulife Financial has a 52-week low of C$24.04 and a 52-week high of C$42.52. The firm has a market cap of C$74.11 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The company's 50-day moving average is C$39.18 and its two-hundred day moving average is C$36.45.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The company had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Director Rocco Gori sold 48,345 shares of Manulife Financial stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$1,727,395.86. Insiders have sold 68,821 shares of company stock valued at $2,455,596 over the last three months. Company insiders own 0.03% of the company's stock.

Manulife Financial Company Profile

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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