Manulife Financial (TSE:MFC) Price Target Raised to C$52.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target boosted by equities research analysts at Royal Bank Of Canada from C$49.00 to C$52.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price objective would suggest a potential upside of 7.28% from the stock’s current price.

Several other brokerages have also commented on MFC. CIBC increased their price target on shares of Manulife Financial from C$44.00 to C$49.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. UBS Group raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. Desjardins raised their target price on Manulife Financial from C$48.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. TD Securities raised their price target on shares of Manulife Financial from C$54.00 to C$57.00 in a research report on Thursday. Finally, Barclays boosted their price objective on Manulife Financial from C$47.00 to C$48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$50.56.

Manulife Financial Stock Up 0.4%

TSE MFC traded up C$0.17 on Friday, reaching C$48.47. The company had a trading volume of 2,925,133 shares, compared to its average volume of 7,153,616. The stock has a market capitalization of C$81.90 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94. Manulife Financial has a 12 month low of C$36.93 and a 12 month high of C$49.82. The firm’s 50 day moving average price is C$44.69 and its 200 day moving average price is C$43.44.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.02 earnings per share (EPS) for the quarter. The business had revenue of C$43.35 billion for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%. On average, research analysts expect that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.