Manulife Financial (TSE:MFC) Given New C$24.00 Price Target at Evercore ISI

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective reduced by Evercore ISI from C$24.50 to C$24.00 in a report published on Thursday, August 8th, Stock Target Advisor reports.

Several other research analysts have also recently weighed in on MFC. Canaccord Genuity lifted their price target on shares of Manulife Financial from C$30.00 to C$31.00 in a research note on Monday, April 29th. Evercore dropped their price target on shares of Manulife Financial from C$24.50 to C$24.00 in a research note on Thursday, August 8th. Eight Capital lifted their price target on shares of Manulife Financial from C$28.00 to C$30.00 in a research note on Friday, May 3rd. National Bank Financial raised their price objective on shares of Manulife Financial from C$25.00 to C$26.00 and gave the company an outperform rating in a research report on Monday, April 29th. Finally, CIBC raised their price objective on shares of Manulife Financial from C$26.50 to C$27.00 in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of C$28.08.

Shares of Manulife Financial stock opened at C$21.95 on Thursday. The company’s fifty day simple moving average is C$23.61 and its 200-day simple moving average is C$23.22. The stock has a market capitalization of $42.98 billion and a PE ratio of 7.69. Manulife Financial has a 1-year low of C$18.33 and a 1-year high of C$25.18. The company has a debt-to-equity ratio of 42.05, a current ratio of 4.96 and a quick ratio of 1.88.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. Manulife Financial’s payout ratio is 33.96%.

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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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