Manulife Financial Corporation (USA) (MFC) is Downgraded by CIBC to Sector Perform

Manulife Financial Corporation (USA) (MFC) was Downgraded by CIBC to ” Sector Perform”. Earlier the firm had a rating of “Sector Outperform ” on the company shares. CIBC advised their investors in a research report released on Aug 4, 2016.

Many Wall Street Analysts have commented on Manulife Financial Corporation (USA). Manulife Financial Corporation (USA) was Downgraded by Macquarie to ” Neutral” on Aug 4, 2016.

On the company’s financial health, Manulife Financial Corporation (USA) reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.45.Analysts expectations of $ 12930.07.During the same quarter in the previous year, the company posted $0.44 EPS.

Manulife Financial Corporation (USA) opened for trading at $13.62 and hit $13.6395 on the upside on Tusday, eventually ending the session at $13.43, with a gain of 0.07% or 0.01 points. The heightened volatility saw the trading volume jump to 18,17,386 shares. Company has a market cap of $26,488 M.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia Canadian and U.S. Divisions and the Corporate and Other segment. Its Asia Canadian and U.S. Divisions segment offers protection and wealth management services such as life insurance and individual group long-term care insurance annuities pension contracts and mutual fund products and services retirement products and deposit and credit products to Canadian customers among others. The Company’s Corporate and Other segment consists of investment performance on assets backing capital net of amounts allocated to operating division and financing costs external asset management business and property and casualty (P&C) reinsurance business among others.

Manulife Financial Corporation (USA)

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