TD Issues Pessimistic Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target lowered by equities researchers at TD from C$59.00 to C$58.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD’s price target indicates a potential upside of 12.14% from the company’s previous close.

Several other research firms have also recently weighed in on MFC. Jefferies Financial Group upped their price objective on shares of Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. TD Securities decreased their price objective on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. National Bank Financial upped their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Royal Bank Of Canada upped their target price on Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$57.00.

Manulife Financial Trading Up 0.4%

MFC stock opened at C$51.72 on Thursday. The company’s 50 day moving average is C$50.07 and its 200 day moving average is C$49.67. The stock has a market cap of C$86.32 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. Manulife Financial has a 1-year low of C$41.08 and a 1-year high of C$55.34.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. The company had revenue of C$2.15 billion for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. As a group, sell-side analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the completion of the sale, the director owned 2,497 shares of the company’s stock, valued at C$116,035.59. This represents a 58.36% decrease in their ownership of the stock. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.