In today’s recent session, 0.91 million shares of the Manulife Financial Corporation (NYSE:MFC) have been traded, and its beta is 1.11. Most recently the company’s share price was $18.43, and it changed around -$0.49 or -2.59% from the last close, which brings the market valuation of the company to $34.81B. MFC at last check was trading at a discount to its 52-week high of $20.40, offering almost -10.69% off that amount. The share price’s 52-week low was $14.92, which indicates that the recent value has risen by an impressive 19.05% since then. We note from Manulife Financial Corporation’s average daily trading volume that its 10-day average is 4.02 million shares, with the 3-month average coming to 3.46 million.
Manulife Financial Corporation stock received a consensus recommendation rating of a Hold, based on a mean score of 3.20. If we narrow it down even further, the data shows that 1 out of 17 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 9 recommended MFC as a Hold, whereas 2 deemed it a Buy, and 1 rated it as Underweight. Manulife Financial Corporation is expected to report earnings per share of $0.59 for the current quarter.
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Manulife Financial Corporation (NYSE:MFC) trade information
Instantly MFC has been showing red trend so far today with a performance of -2.59% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 19.47 on Tuesday, 05/23/23 increased the stock’s daily price by 5.34%. The company’s shares are currently up 3.31% year-to-date, but still down -4.85% over the last five days. On the other hand, Manulife Financial Corporation (NYSE:MFC) is -2.74% down in the 30-day period. We can see from the shorts that 16.8 million shares have been sold at a short interest cover period of 6.98 day(s).
The consensus price target as assigned by Wall Street analysts is $21.58, which translates to bulls needing to increase their stock price by 14.6% from its current value. Analyst projections state that MFC is forecast to be at a low of $18.55 and a high of $25.97. In order for the stock price to hit the forecast high, the stock would need to plunge -40.91% from its current level, while the stock would need to crash -0.65% from its current level to reach the projected low.
Manulife Financial Corporation (MFC) estimates and forecasts
Manulife Financial Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 6.59 percent over the past six months and at a 2.52% annual growth rate that is well below the industry average of 22.50%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 3.50% in revenue this quarter, and will report an increase of 24.00% in the next quarter. The year-over-year growth rate is expected to be 330.20%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $1.38 billion in revenue for the current quarter. 1 analysts expect Manulife Financial Corporation to make $1.39 billion in revenue for the quarter ending Sep 2023.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 30.30%. Manulife Financial Corporation earnings are expected to increase by 3.90% in 2023, but the outlook is positive 7.42% per year for the next five years.
Manulife Financial Corporation’s next quarterly earnings report is expected to be released on August 09. The annual dividend yield of the stock is 5.77 percent and its annual dividend per share was 1.09. It is important to note, however, that the 5.77% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Manulife Financial Corporation (NYSE:MFC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.03% of Manulife Financial Corporation shares, and 52.98% of them are in the hands of institutional investors. The stock currently has a share float of 52.99%. Manulife Financial Corporation stock is held by 831 institutions, with Royal Bank of Canada being the largest institutional investor. By Mar 30, 2023, it held 8.33% of the shares, which is about 153.76 million shares worth $2.82 billion.
Vanguard Group, Inc. (The), with 3.74% or 69.05 million shares worth $1.27 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund were the top two Mutual Funds as of Jan 30, 2023. The former held 25.17 million shares worth $498.4 million, making up 1.36% of all outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held roughly 14.54 million shares worth around $259.31 million, which represents about 0.79% of the total shares outstanding.