Manulife Financial Corp (NYSE:MFC) Given New $27.00 Price Target at Morgan Stanley

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) had its target price boosted by equities research analysts at Morgan Stanley from $26.00 to $27.00 in a research report issued to clients and investors on Thursday, October 5th. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 30.43% from the company’s previous close.

A number of other equities analysts also recently commented on MFC. BidaskClub upgraded Manulife Financial Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine downgraded Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Finally, Zacks Investment Research upgraded Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a report on Monday, July 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $24.50.

Manulife Financial Corp (NYSE:MFC) opened at 20.70 on Thursday. The stock’s 50 day moving average is $20.01 and its 200 day moving average is $18.86. The stock has a market capitalization of $40.95 billion, a PE ratio of 13.74 and a beta of 1.29. Manulife Financial Corp has a 12-month low of $14.15 and a 12-month high of $20.84.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $12.34 billion during the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter last year, the business earned $0.40 earnings per share. Equities analysts anticipate that Manulife Financial Corp will post $1.80 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Manulife Financial Corp (NYSE:MFC) Given New $27.00 Price Target at Morgan Stanley” was first published by BBNS and is owned by of BBNS. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://baseballnewssource.com/markets/morgan-stanley-raises-manulife-financial-corp-mfc-price-target-to-27-00/1701383.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ronald Blue & Co. LLC grew its position in shares of Manulife Financial Corp by 0.7% in the 2nd quarter. Ronald Blue & Co. LLC now owns 12,997 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 93 shares in the last quarter. MML Investors Services LLC boosted its position in Manulife Financial Corp by 1.6% during the 2nd quarter. MML Investors Services LLC now owns 16,014 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 245 shares during the period. Bessemer Group Inc. boosted its position in Manulife Financial Corp by 0.9% during the 2nd quarter. Bessemer Group Inc. now owns 29,736 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 261 shares during the period. Park National Corp OH boosted its position in Manulife Financial Corp by 3.9% during the 2nd quarter. Park National Corp OH now owns 13,525 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 508 shares during the period. Finally, M&T Bank Corp boosted its position in Manulife Financial Corp by 1.8% during the 2nd quarter. M&T Bank Corp now owns 41,840 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 754 shares during the period. Institutional investors own 45.95% of the company’s stock.

About Manulife Financial Corp

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial Corp (NYSE:MFC)

Receive News & Ratings for Manulife Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial Corp and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.