Manulife Financial Corp. (MFC) Shares Gap Up to $13.67
Manulife Financial Corp. (NYSE:MFC) shares gapped up before the market opened on Friday . The stock had previously closed at $13.66, but opened at $13.67. Manulife Financial Corp. shares last traded at $13.71, with a volume of 1,653,123 shares trading hands.
A number of research analysts recently commented on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Manulife Financial Corp. in a research report on Monday, June 13th. TD Securities reaffirmed a “hold” rating and set a $19.00 price objective on shares of Manulife Financial Corp. in a research report on Wednesday, August 10th. Zacks Investment Research downgraded shares of Manulife Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. CIBC downgraded shares of Manulife Financial Corp. from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, August 4th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $19.00 price objective (down from $20.00) on shares of Manulife Financial Corp. in a research report on Wednesday, August 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.00.
The firm has a market capitalization of $27.05 billion and a P/E ratio of 13.92. The company has a 50 day moving average of $13.48 and a 200-day moving average of $13.82.
Manulife Financial Corp. (NYSE:MFC) last released its earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. During the same quarter last year, the company earned $0.44 EPS. On average, analysts predict that Manulife Financial Corp. will post $1.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Tuesday, August 16th will be given a $0.141 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.11%.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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