Sun Life Financial Inc. (TSE: SLF) Receives Consensus Recommendation “Buy” From Brokers
Sun Life Financial Inc. (TSE: SLF) (NYSE: SLF) shares have received an average “buy” rating from the thirteen analysts currently tracking the company, MarketBeat reports. One investment analyst rated the stock with a hold recommendation and five gave the company a buy recommendation. The average 1-year target price among brokers who rated the stock last year is $ 72.00.
Several analysts have published reports on the company. On Tuesday, August 10, Credit Suisse Group raised its target price for Sun Life Financial in a research release from CAD 71.00 to CAD 72.00. The Royal Bank of Canada raised its target price for Sun Life Financial from $ 69.00 to $ 71.00 and gave the company a “sector performance” in a research note on Friday, August 6th. TD Securities raised its target price for Sun Life Financial from CAD 73.00 to CAD 75.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. CSFB raised its target price on Sun Life Financial from $ 71.00 to $ 72.00 in a research note on Tuesday, August 10th. Finally, in a research release on Friday, August 6th, CIBC raised its target price for Sun Life Financial from CAD 70.00 to CAD 72.00.
SLF shares opened at C $ 65.23 on Wednesday. The company has a market capitalization of $ 38.21 billion and a P / E of 11.49. The fifty-day moving average price for the stock is C $ 65.12 and the 200-day moving average price is C $ 64.73. The company has a Leverage Ratio of 20.47, a current value of 545.45, and a fast value of 516.21. Sun Life Financial has a 1 year low of $ 51.59 and a 1 year high of $ 67.26.
Sun Life Financial (TSE: SLF) (NYSE: SLF) last released its earnings results on Wednesday 4th August. The financial services company reported earnings per share (EPS) for the quarter of $ 1.50, beating Thomson Reuters’ consensus estimate of $ 1.45 by $ 0.05. The company had sales of $ 12.67 billion for the quarter. Sell-side analysts estimate that Sun Life Financial will achieve earnings per share of 6,6999992 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday August 25th will receive a dividend of $ 0.55. This equates to an annual dividend of $ 2.20 and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, August 24th. Sun Life Financial’s payout ratio is currently 38.75%.
In other news, Director Dean Connor sold 14,147 shares in the company in a transaction dated Friday, July 2. The stock was sold at an average price of C $ 63.95 for a total value of C $ 904,769.97. Upon completion of the transaction, the director now directly owns 119,000 shares in the company valued at approximately C $ 7,610,633.10.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth and asset management solutions to private and corporate customers worldwide. It offers fixed-term and perpetual life insurance as well as products for health, dental, critical illness, long-term care and disability insurance. The company also offers reinsurance products; Investment advice and portfolio management; Mutual funds and special funds; Fiduciary and banking services; Real estate brokerage and valuation services; and commercial banking services.
See also: VIX – volatility index
This instant news alert was generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest, most accurate coverage. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [emailÂ protected]
Should You Invest $ 1,000 In Sun Life Financial Now?
Before you consider Sun Life Financial, this is what you should hear.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly whispering to their customers to buy now, before the broader market takes hold … and Sun Life Financial wasn’t on the list.
While Sun Life Financial is currently rated “Buy” by analysts, top-rated analysts think these five stocks are better buys.
Check out the 5 stocks here