Manulife Financial (TSE:MFC) PT Raised to C$40.00 at BMO Capital Markets

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective lifted by investment analysts at BMO Capital Markets from C$35.00 to C$40.00 in a research note issued to investors on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 19.58% from the company’s current price.

Several other brokerages have also recently commented on MFC. CIBC raised their price target on shares of Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Cormark raised shares of Manulife Financial from a “market perform” rating to a “buy” rating and lifted their price objective for the stock from C$33.00 to C$36.00 in a research report on Friday, February 16th. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$29.00 to C$36.00 in a research report on Friday, February 16th. Veritas Investment Research reaffirmed a “reduce” rating on shares of Manulife Financial in a research report on Friday, February 16th. Finally, Evercore lifted their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$36.30.

Manulife Financial Price Performance

Manulife Financial stock opened at C$33.45 on Monday. Manulife Financial has a fifty-two week low of C$23.69 and a fifty-two week high of C$34.05. 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 50 day moving average price of C$32.22 and a 200 day moving average price of C$28.70. The company has a market capitalization of C$60.54 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results 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. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The company had revenue of C$14.92 billion during the quarter, compared to analysts’ expectations of C$10.24 billion. Research analysts expect that Manulife Financial will post 3.7118834 earnings per share for the current year.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial 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. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial 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 Manulife Financial stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. 0.02% of the stock is currently owned by company insiders.

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.