Manulife Financial’s (MFC) “Buy” Rating Reaffirmed at Desjardins

Desjardins restated their buy rating on shares of Manulife Financial (NYSE:MFC) (TSE:MFC) in a research report sent to investors on Tuesday morning. Desjardins also issued estimates for Manulife Financial’s Q3 2018 earnings at $0.50 EPS, FY2018 earnings at $1.98 EPS, FY2019 earnings at $2.16 EPS and FY2020 earnings at $2.31 EPS.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Manulife Financial from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Friday, October 5th. Morgan Stanley dropped their target price on shares of Manulife Financial from $27.00 to $26.00 and set an equal weight rating for the company in a report on Wednesday, July 11th. Evercore ISI started coverage on shares of Manulife Financial in a report on Tuesday, July 10th. They set an in-line rating for the company. Finally, ValuEngine lowered shares of Manulife Financial from a hold rating to a sell rating in a report on Monday, June 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $25.67.

Manulife Financial stock opened at $15.90 on Tuesday. Manulife Financial has a 52-week low of $15.17 and a 52-week high of $22.16. The firm has a market cap of $31.38 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.77 and a beta of 1.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 8th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.21. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. The business had revenue of $10.59 billion during the quarter. During the same period in the previous year, the company earned $0.57 EPS. As a group, equities research analysts forecast that Manulife Financial will post 2.04 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in shares of Manulife Financial during the 3rd quarter valued at about $149,000. MUFG Americas Holdings Corp boosted its position in shares of Manulife Financial by 61.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 3,160 shares during the last quarter. ProVise Management Group LLC acquired a new position in shares of Manulife Financial during the 2nd quarter valued at about $191,000. We Are One Seven LLC acquired a new position in shares of Manulife Financial during the 3rd quarter valued at about $227,000. Finally, Squar Milner Financial Services LLC acquired a new position in shares of Manulife Financial during the 2nd quarter valued at about $248,000. 46.12% of the stock is currently owned by hedge funds and other institutional investors.

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 through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (NYSE:MFC)

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