Manulife Financial (NYSE:MFC) (TSE:MFC) released its earnings results on Wednesday. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15, Briefing.com reports. Manulife Financial had a net margin of 5.49% and a return on equity of 13.70%. The business had revenue of $6.44 billion for the quarter. During the same quarter in the previous year, the firm earned $0.59 earnings per share.
Shares of NYSE MFC traded up $0.24 during mid-day trading on Thursday, hitting $16.04. The company’s stock had a trading volume of 3,673,835 shares, compared to its average volume of 1,953,353. The firm has a market capitalization of $32.08 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.72 and a beta of 1.35. Manulife Financial has a one year low of $13.33 and a one year high of $20.14.
Several research analysts have weighed in on MFC shares. Barclays reiterated a “buy” rating on shares of Manulife Financial in a research note on Thursday, January 10th. ValuEngine raised shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. TD Securities reissued a “buy” rating on shares of Manulife Financial in a research report on Thursday, November 8th. Scotiabank reaffirmed an “average” rating and set a $28.00 price objective on shares of Manulife Financial in a report on Tuesday, November 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Manulife Financial in a report on Friday, November 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Manulife Financial presently has a consensus rating of “Hold” and an average target price of $24.33.
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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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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