In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Manulife Financial (TSX: MFC). Analyst Paul Holden from CIBC rated Manulife Financial (TSX: MFC) a Buy yesterday.
According to TipRanks.com, Holden is ranked #1751 out of 4850 analysts.
Manulife Financial has an analyst consensus of Strong Buy, with a price target consensus of C$29.50, representing a 23.6% upside. In a report issued on July 31, Scotiabank also reiterated a Buy rating on the stock with a C$29 price target.
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Based on Manulife Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$13.11 billion and net profit of C$1.26 billion. In comparison, last year the company earned revenue of C$16.06 billion and had a net profit of C$1.26 billion.
Manulife Financial Corp. is a holding company, which engages in the provision of financial protection and wealth management products and services. It operates through the following business segments: Protection; Wealth and Asset Management; Other Wealth; and Corporate and Other.
The company’s shares closed on Friday at C$23.87, close to its 52-week low of C$23.11.
