The stock of Manulife Financial Corporation (NYSE:MFC) decreased by -$0.5 on Tuesday to finish at $18.78, down -2.59 percent. The last five days have seen an average of 3,380,120 shares of common stock traded. 15 times new highs were reached in the current year, with a gain of $0.94. The average number of shares traded over the last 20 days was 3,465,000, while the average volume over the last 50 days totaled 3,227,754.
MFC stock dropped -2.34% since last month. On 08/15/23, the company’s shares reached a one-month low of $18.76. The stock touched a high of $20.40 on 02/16/23, after rallying from a low of $14.92 in 52 weeks. The price of MFC stock has risen by 5.27% or $0.94 this year, reaching a new high 15 times. Still, the stock price is down -7.94% from the 52-week high.
Valuation Metrics
Manulife Financial Corporation (MFC) has a trailing price-to-earnings (P/E) ratio of 8.82. Beta for the stock is 1.11. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.22, the price-to-book (PB) ratio of 1.19, and the price-to-cash flow ratio of 2.42.
Company paid $0.2760 per share in dividends, an increase of 2.6% from $0.2690 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.33, and the total debt to equity ratio is 0.33. Manulife Financial Corporation’s operating margin stood at 20.20% for the same period. Based on annual data, it had gross profit of $6.73 billion and revenue of $13.19 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MFC’s return on assets (ROA) during the last 12 months has been 0.60%. There was a 16.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 12.80%.
Earnings Surprise
According to Manulife Financial Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $60.95 billion, while revenues rose by 51.02% to $0.0. It was predicted that Manulife Financial Corporation’s quarterly earnings would be $0.62, but it ended up being $0.58, beating the consensus by 6.90%. EBITDA was $4.96 billion for the quarter. At the end of Manulife Financial Corporation’s most recent quarter ended June 29, its total debt was $22.76 billion.
Technical Picture
Here’s a quick look at Manulife Financial Corporation’s (MFC) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 32.26%, suggesting the stock is Neutral, with a 18.53% historical volatility rate.
The stochastic %K and %D were 21.09% and 30.47% respectively, while the average true range (ATR) was 0.35. Based on the 14-day stochastic reading of 1.46%, the RSI (14) reading is 39.01%. On the 9-day MACD Oscillator, the stock is at -0.16, and the 14-day reading is at -0.31.
Analyst Ratings
In its analyst report released on January 12, 2023, Credit Suisse began covering Manulife Financial Corporation (NYSE: MFC). The stock was rated as a Neutral by the brokerage firm. Analysts have assigned Manulife Financial Corporation (MFC) an Overweight rating. MFC is a stock that is recommended for selling by 1 brokerage firm, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 4 others recommend it as a buy.
What is MFC’s price target for the next 12 months?
The current consensus forecast for the stock is between $17.91 and $26.11, with a median target price of $21.26. In analyzing these forecasts, the average price target given by analysts for Manulife Financial Corporation (MFC) is $21.79.
