Manulife Financial Corporation (NYSE:MFC) finished Thursday with an addition of $0.1 to close at $17.93, an upside of 0.56 percent. An average of 4,063,660 shares of common stock have been traded in the last five days. There was a fall of -$0.65 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 3,770,920 shares traded, while the 50-day average volume stands at 3,378,238.
MFC stock has decreased by -9.81% in the last month. The company shares reached their 1-month lowest point of $17.49 on 08/22/23. With the stock rallying to its 52-week high on 02/16/23, shares of the company touched a low of $14.92 and a high of $20.40 in 52 weeks. It has reached a new high 15 times so far this year and achieved 0.50% or $0.09 in price. In spite of this, the price is down -12.11% from the 52-week high.
Valuation Metrics
Manulife Financial Corporation (MFC) has a trailing price-to-earnings (P/E) ratio of 8.48. The stock’s beta is 1.12. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.19, the price-to-book (PB) ratio at 1.15, and the price-to-cash flow ratio at 2.39.
The company has a payout ratio of 67.30%. The company’s most recent quarterly dividend payment was $0.2760 a share, representing a up of 2.6% from $0.2690 last year. Its latest increase dividend $0.0070 reported on Wednesday August 9 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.33 and a total debt to equity ratio of 0.33 for the quarter ending June 29. Its gross profit as reported stood at $6.73 billion compared to revenue of $13.19 billion.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $4.29 billion in the quarter, while revenues were grew 14.32%. The analyst consensus anticipated Manulife Financial Corporation’s latest quarter earnings to come in at $0.58 per share, but it turned out to be $0.61, a 5.20% surprise. For the quarter, EBITDA amounted to $4.96 billion. At the end of the quarter ending June 29, Manulife Financial Corporation’s stock balance sheet showed total debt was $22.76 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Manulife Financial Corporation (MFC) price momentum. RSI 9-day as of the close on 24 August was 30.49%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.91%.
As of today, MFC’s price is $17.85 -3.50% or -$0.65 from its 5-day moving average. MFC is currently trading -9.76% lower than its 20-day SMA and -2.34% lower than its 100-day SMA. However, the stock’s current price level is -7.43% below the SMA50 and +6.92% above the SMA200.
The stochastic %K and %D were 12.93% and 8.02%, respectively, and the average true range (ATR) was 0.34. With the 14-day stochastic at 19.73% and the average true range at 0.33, the RSI (14) stands at 33.54%. The stock has reached -0.51 on the 9-day MACD Oscillator while the 14-day reading was at -0.93.
Analyst Ratings
Credit Suisse launched coverage on Manulife Financial Corporation (NYSE: MFC) in its analyst report released on January 12, 2023. The firm assigned the stock a Neutral rating. The consensus rating for Manulife Financial Corporation (MFC) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell MFC, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 4 others rate it as a “buy”.
What is MFC’s price target for the next 12 months?
Analysts predict a range of price targets between $17.91 and $24.62, with a median target of $21.14. Taking a look at these predictions, the average price target given by analysts for Manulife Financial Corporation (MFC) stock is $21.62.
