Manulife Financial Corporation (NYSE:MFC) saw a downside of -0.77% to close Tuesday at $19.45 after subtracting -$0.15 on the day. The 5-day average trading volume is 4,431,800 shares of the company’s common stock. It has gained $19.69 in the past week and touched a new high 3 times within the past 5 days. An average of 3,328,840 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,154,906.
MFC’s 1-month performance is 5.94% or $0.92 on its low of $18.32 reached on 07/10/23. The company’s shares have touched a 52-week low of $14.92 and high of $20.40, with the stock’s rally to the 52-week high happening on 02/16/23. YTD, MFC has achieved 9.02% or $1.61 and has reached a new high 15 times. However, the current price is down -4.66% from the 52-week high price.
Valuation Metrics
MFC stock has a beta of 1.11. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.71 while the price-to-book (PB) in the most recent quarter is 1.19, with the price to cash flow ratio at 3.07.
The firm’s gross profit as reported stood at $6.73 billion against revenue of $13.19 billion.
Earnings Surprise
Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 14.32% to $4.29 billion, while revenue of $0.0 was 100.0% off the previous quarter. EBITDA for the quarter stood at more than $5.12 billion.
Let’s look briefly at Manulife Financial Corporation (MFC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 49.95% to suggest the stock is trending Neutral, with historical volatility in this time period at 16.80%.
The stock’s 5-day moving average is $19.39, reflecting a -1.67% or -$0.33 change from its current price. MFC is currently trading +4.80% above its 20-day SMA, +7.58% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +5.14% and SMA200 by+22.02%.
Stochastic %K and %D was 41.21% and 37.66% and the average true range (ATR) pointed at 0.32. The RSI (14) points at 52.46%, while the 14-day stochastic is at 38.18% with the period’s ATR at 0.30. The stock’s 9-day MACD Oscillator is pointing at -0.13 and -0.15 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Manulife Financial Corporation (NYSE: MFC), Credit Suisse launched coverage with a Neutral rating. Analysts offering their rating for MFC stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate MFC as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 4 have offered a “buy” rating.
What is MFC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $17.98 and a high of $26.57, with their median price target at $21.47. Looking at these predictions, the average price target given by analysts is for Manulife Financial Corporation (MFC) stock is $21.86.
