Manulife Financial (MFC) Price Target Increased to C$27.00 by Analysts at CIBC

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Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by research analysts at CIBC from C$26.50 to C$27.00 in a report issued on Friday, BayStreet.CA reports. CIBC’s price objective points to a potential upside of 8.35% from the stock’s current price.

A number of other analysts have also commented on MFC. National Bank Financial reduced their price target on shares of Manulife Financial from C$27.00 to C$25.00 and set an “outperform” rating for the company in a research note on Thursday, January 24th. TD Securities reduced their price target on shares of Manulife Financial from C$30.00 to C$29.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Desjardins boosted their price target on shares of Manulife Financial from C$27.00 to C$28.00 in a research report on Monday, April 15th. Eight Capital boosted their price target on shares of Manulife Financial from C$27.00 to C$28.00 in a research report on Friday, April 26th. Finally, Canaccord Genuity boosted their price objective on shares of Manulife Financial from C$30.00 to C$31.00 in a research report on Monday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$28.18.

TSE:MFC traded up C$0.30 on Friday, reaching C$24.92. 3,661,618 shares of the stock traded hands, compared to its average volume of 5,131,494. The firm has a market cap of $48.75 billion and a P/E ratio of 10.70. The company has a debt-to-equity ratio of 40.97, a quick ratio of 1.88 and a current ratio of 4.96. Manulife Financial has a 12 month low of C$18.33 and a 12 month high of C$25.20.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, February 13th. The financial services provider reported C$0.65 EPS for the quarter, missing analysts’ consensus estimates of C$0.66 by C($0.01). The firm had revenue of C$8.51 billion for the quarter. On average, equities research analysts predict that Manulife Financial will post 3.13000008102528 EPS for the current year.

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

Manulife Financial Company Profile

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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