CIBC lowers price target for Manulife Financial (TSE: MFC) to C $ 25.50

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Manulife Financial (TSE: MFC) (NYSE: MFC) saw its target price cut by investment analysts at CIBC to C $ 25.50 in a research report released Thursday, Target equity advisor reports. The company currently has an “underperformance” rating on the shares of the financial services provider. CIBC’s target price would indicate a potential rise of 7.14% from the company’s current price.

Other analysts have also recently published reports on the stock. Cormark lowered its target price for Manulife Financial shares from C $ 29.00 to C $ 26.00 and established a “na” rating for the stock in a report released on Friday, November 5th. Evercore increased its price target for Manulife Financial shares from C $ 28.50 to C $ 29.50 in a report released on Tuesday, November 16. National Bankshares raised its price target for Manulife Financial shares from C $ 27.00 to C $ 28.00 and assigned the company a “sector performance” rating in a report released on Wednesday, November 17. Scotiabank raised its price target for Manulife Financial shares from C $ 28.00 to C $ 30.00 in a report released on Tuesday, November 16. Finally, TD Securities raised its price target for Manulife Financial shares from C $ 36.00 to C $ 37.00 and assigned the company a “buy on share list” rating in a published report. Tuesday, November 16. One research analyst rated the stock with a sell rating, six assigned a custody rating, one issued a buy rating, and one issued a strong buy rating for the company’s stock. According to MarketBeat data, Manulife Financial currently has an average rating of “Hold” and an average target price of C $ 29.89.

Actions of TSE MFC traded down C $ 0.10 in the Thursday noon session, to reach C $ 23.80. The company’s shares had a trading volume of 2,949,048 shares, compared to its average volume of 7,216,045. The company has a current ratio of 6.02, a quick ratio of 2.88 and a ratio of debt of 37.33. The company has a 50-day moving average price of CA $ 24.48 and a 200-day moving average price of CA $ 24.53. Manulife Financial has a one-year low of C $ 21.72 and a one-year high of C $ 27.68. The company has a market capitalization of 46.23 billion Canadian dollars and a price / earnings ratio of 6.99.

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Manulife Financial (TSE: MFC) (NYSE: MFC) last reported its results on Wednesday, November 3. The financial services provider reported EPS of C $ 0.76 for the quarter, missing analyst consensus estimates of C $ 0.81 per (C $ 0.05). The company reported sales of C $ 15.98 billion for the quarter. Research analysts expect Manulife Financial to post earnings per share of 21.3999972 for the current year.

In other news from Manulife Financial, senior executive Steve Finch sold 12,896 shares of the company in a trade that took place on Friday, November 12. The shares were sold for an average price of C $ 24.96, for a total value of C $ 321,845.47. Following the closing of the sale, the insider now directly owns 9,120 shares of the company, valued at C $ 227,607.84. Additionally, director Michael James Doughty sold 21,246 shares of the company in a trade that took place on Friday, November 12. The stock was sold for an average price of C $ 24.96, for a total trade of C $ 530,236.42. Following the closing of the sale, the Director now directly owns 5,439 shares of the company, valued at C $ 135,741.12. Insiders have sold 34,642 shares of the company valued at $ 864,367 in the past ninety days.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, offers financial products and services in Asia, Canada, the United States and abroad. The company operates through wealth and asset management companies; Insurance and annuity products; And the Business and Other segments. The Wealth and Asset Management Activities segment provides mutual funds and exchange traded funds, group retirement and savings products, as well as institutional asset management services through agents and brokers affiliated with the company, brokerage firms and financial advisers, pension consultants and banks.

See also: Neutral note

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