Market Runner: Is Manulife Financial Corporation (USA)’s Fuel Running Low? The Stock Reaches 52-Week High Today

Market Runner: Is Manulife Financial Corporation (USA)'s Fuel Running Low? The Stock Reaches 52 Week High Today

The stock of Manulife Financial Corporation (USA) (NYSE:MFC) hit a new 52-week high and has $18.49 target or 5.00% above today’s $17.61 share price. The 7 months bullish chart indicates low risk for the $35.22B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $18.49 price target is reached, the company will be worth $1.76 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.29M shares traded hands. Manulife Financial Corporation (USA) (NYSE:MFC) has risen 19.13% since April 28, 2016 and is uptrending. It has outperformed by 13.20% the S&P500.

Analysts await Manulife Financial Corporation (USA) (NYSE:MFC) to report earnings on February, 9. They expect $0.35 earnings per share, up 12.90% or $0.04 from last year’s $0.31 per share. MFC’s profit will be $700.00 million for 12.58 P/E if the $0.35 EPS becomes a reality. After $0.37 actual earnings per share reported by Manulife Financial Corporation (USA) for the previous quarter, Wall Street now forecasts -5.41% negative EPS growth.

Manulife Financial Corporation (USA) (NYSE:MFC) Ratings Coverage

Out of 5 analysts covering Manulife Financial Corp. (NYSE:MFC), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Manulife Financial Corp. has been the topic of 8 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Bank of America initiated Manulife Financial Corporation (USA) (NYSE:MFC) on Wednesday, August 24 with “Buy” rating. The firm has “Outperform” rating by RBC Capital Markets given on Friday, November 13. The stock has “Outperform” rating given by RBC Capital Markets on Friday, August 7. The firm has “Buy” rating by Dundee Securities given on Wednesday, September 21. The firm has “Buy” rating given on Friday, August 7 by TD Securities. IBC downgraded the shares of MFC in a report on Thursday, August 4 to “Sector Perform” rating.

According to Zacks Investment Research, “Manulife Financial Corporation is engaged in providing financial protection products and investment management services to individuals, families, businesses and groups in selected international markets.”

More notable recent Manulife Financial Corporation (USA) (NYSE:MFC) news were published by: Fool.ca which released: “Is Manulife Financial Corp. Worth Considering?” on November 30, 2016, also Fool.ca with their article: “Trump Makes Manulife Financial Corp. a Solid Long-Term Financials Play” published on November 21, 2016, Fool.ca published: “Why Manulife Financial Corp. Is Heading Higher” on November 23, 2016. More interesting news about Manulife Financial Corporation (USA) (NYSE:MFC) were released by: Fool.ca and their article: “Why Manulife Financial Corp. Could Outperform in 2017” published on November 03, 2016 as well as Fool.ca‘s news article titled: “Why Asia Is Key for Manulife Financial Corp. to Succeed” with publication date: August 29, 2016.

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