Brokerages Set Manulife Financial Co. (MFC) Price Target at $27.83

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$27.83.

A number of brokerages have issued reports on MFC. Desjardins lifted their price objective on Manulife Financial from C$27.00 to C$28.00 in a report on Monday, April 15th. National Bank Financial cut their price objective on Manulife Financial from C$27.00 to C$25.00 and set an “outperform” rating for the company in a report on Thursday, January 24th. Finally, TD Securities cut their price objective on Manulife Financial from C$30.00 to C$29.00 and set a “buy” rating for the company in a report on Thursday, February 14th.

In other news, Director Brian Collins sold 2,937 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of C$21.53, for a total value of C$63,240.37. Also, Senior Officer Steve Finch sold 1,407 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of C$21.53, for a total value of C$30,295.95. Following the completion of the sale, the insider now owns 6,214 shares of the company’s stock, valued at C$133,801.71.

Shares of TSE MFC opened at C$24.64 on Friday. The firm has a market cap of $48.40 billion and a price-to-earnings ratio of 10.58. Manulife Financial has a 52-week low of C$18.33 and a 52-week high of C$25.20. The company has a debt-to-equity ratio of 40.97, a current ratio of 4.96 and a quick ratio of 1.88.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, February 13th. The financial services provider reported C$0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.66 by C($0.01). The business had revenue of C$8.51 billion during the quarter. As a group, sell-side analysts predict that Manulife Financial will post 3.13000018800326 earnings per share for the current year.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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