Manulife Financial Corporation [MFC] Revenue clocked in at $16.03 billion, down -7.08% YTD: What’s Next?

Manulife Financial Corporation [NYSE: MFC] stock went on an upward path that rose over 0.11% on Thursday, amounting to a one-week price decrease of less than -2.21%. The company report on December 8, 2022 that JOINT STATEMENT BY CANADIAN BANKS AND LIFE INSURANCE COMPANIES REGARDING ANNUAL MEETINGS IN 2023.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…

Sponsored

This is a joint statement issued by BMO, CIBC, Canadian Western Bank, Laurentian Bank, National Bank, RBC, Scotiabank, TD Bank Group, Great-West Lifeco, Canada Life, Manulife and Sun Life. Each of us continues to monitor the ongoing COVID-19 pandemic and the directives and recommendations from public health and government authorities. In the last few years, we have been taking a series of proactive precautionary measures to help protect the health and well-being of our employees, clients and communities. This degree of care and concern extends to all of our shareholders and policyholders. Although the COVID-19 situation has improved since the 2022 annual meeting cycle, we have been carefully considering alternatives for our respective meetings in light of the continued and unpredictable nature of COVID-19, and potential protocols recommended by public health authorities and organizations.

As a result, we have once again jointly obtained a court order that enables our 2023 annual meetings to be held, as electronic-only or as hybrid meetings, as determined by each financial institution. The order permits our meetings to be conducted over one or more of webcasting, teleconference or other electronic means, in each case in addition to, or instead of, an in-person meeting, and permits alternative means for distributing meeting materials. In March 2020, December 2020 and December 2021, we jointly obtained a similar court order. The order was obtained because Canadian banks and insurance companies are not permitted to conduct an electronic annual meeting in lieu of an in-person meeting without relief from the court..

Over the last 12 months, MFC stock dropped by -6.29%. The one-year Manulife Financial Corporation stock forecast points to a potential upside of 0.39. The average equity rating for MFC stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $33.37 billion, with 1.90 billion shares outstanding and 1.88 billion shares in the current float. Compared to the average trading volume of 3.62M shares, MFC stock reached a trading volume of 2531337 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $17.79 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 2.50. 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.

Scotiabank have made an estimate for Manulife Financial Corporation shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on July 27, 2022. The new note on the price target was released on May 13, 2022, representing the official price target for Manulife Financial Corporation stock.

The Average True Range (ATR) for Manulife Financial Corporation is set at 0.37, with the Price to Sales ratio for MFC stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 8.28. Price to Free Cash Flow for MFC in the course of the last twelve months was 2.68.

MFC Stock Performance Analysis:

Manulife Financial Corporation [MFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.21. With this latest performance, MFC shares gained by 5.79% in over the last four-week period, additionally sinking by -3.49% over the last 6 months – not to mention a drop of -6.29% 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 55.44, with the RSI for the last a single of trading hit 53.14, and the three-weeks RSI is set at 55.30 for Manulife Financial Corporation [MFC]. The present Moving Average for the last 50 days of trading for this stock 16.78, while it was recorded at 17.81 for the last single week of trading, and 18.15 for the last 200 days.

Insight into Manulife Financial Corporation 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.

MFC Stock EPS

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 7.40%.

LEAVE A REPLY

Please enter your comment!
Please enter your name here