Manulife Financial Corporation [MFC] is -9.39% lower this YTD. Is it still time to buy?



Manulife Financial Corporation [NYSE: MFC] surged by $0.35 during the normal trading session on Monday and reaching a high of $17.53 during the day while it closed the day at $17.28. The company report on July 12, 2022 that John Hancock Investment Management partners with Marathon Asset Management to expand alternatives offerings for accredited investors with Asset-Based Lending Fund.

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(TSX: MFC) (NYSE: MFC) (PSE: MFC) (SEHK: 945).

John Hancock Investment Management, a company of Manulife Investment Management, and Marathon Asset Management announced today the launch of John Hancock Asset-Based Lending Fund (the fund). The fund is subadvised by Marathon Asset Management (Marathon), a leading global credit investor with nearly 25 years of experience successfully investing across multiple sectors, including structured credit and asset-based lending (ABL), where it has deployed more than $20 billion over its history with approximately $23 billion in assets under management as of December 31, 2021.

Manulife Financial Corporation stock has also loss -0.17% of its value over the past 7 days. However, MFC stock has declined by -19.10% in the 3 months of the year. Over the past six months meanwhile, it has lost -16.44% and lost -9.39% year-on date.

The market cap for MFC stock reached $32.95 billion, with 1.94 billion shares outstanding and 1.91 billion shares in the current float. Compared to the average trading volume of 4.92M shares, MFC reached a trading volume of 6877888 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Manulife Financial Corporation [MFC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MFC shares is $21.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MFC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Manulife Financial Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 13, 2022. The new note on the price target was released on May 12, 2022, representing the official price target for Manulife Financial Corporation stock. Previously, the target price had yet another raise to $36, while Barclays analysts kept a Overweight rating on MFC stock.

The Average True Range (ATR) for Manulife Financial Corporation is set at 0.50, with the Price to Sales ratio for MFC stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 8.82. Price to Free Cash Flow for MFC in the course of the last twelve months was 2.25.

MFC stock trade performance evaluation

Manulife Financial Corporation [MFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.17. With this latest performance, MFC shares dropped by -0.06% in over the last four-week period, additionally sinking by -16.44% over the last 6 months – not to mention a drop of -8.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MFC stock in for the last two-week period is set at 48.49, with the RSI for the last a single of trading hit 51.09, and the three-weeks RSI is set at 46.75 for Manulife Financial Corporation [MFC]. The present Moving Average for the last 50 days of trading for this stock 17.69, while it was recorded at 17.10 for the last single week of trading, and 19.45 for the last 200 days.

Manulife Financial Corporation [MFC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Manulife Financial Corporation [MFC] shares currently have an operating margin of +14.48. Manulife Financial Corporation’s Net Margin is presently recorded at +12.01.

Return on Equity for this stock inclined to 12.83, with Return on Assets sitting at 0.83.

Earnings per share (EPS) analysis for Manulife Financial Corporation [MFC] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MFC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Manulife Financial Corporation go to 9.00%.