Barclays Cuts Sun Life Financial (TSE:SLF) Price Target to C$83.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price dropped by equities research analysts at Barclays from C$84.00 to C$83.00 in a note issued to investors on Friday,BayStreet.CA reports. Barclays‘s target price indicates a potential downside of 5.36% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. CIBC raised their target price on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the company a “neutral” rating in a research note on Thursday. Desjardins set a C$94.00 price objective on Sun Life Financial and gave the company a “buy” rating in a research note on Thursday, December 18th. BMO Capital Markets reduced their target price on Sun Life Financial from C$99.00 to C$95.00 in a research note on Monday, November 10th. TD Securities decreased their target price on Sun Life Financial from C$101.00 to C$99.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Jefferies Financial Group increased their price target on Sun Life Financial from C$96.00 to C$98.00 in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$91.56.

Sun Life Financial Stock Up 1.0%

TSE SLF traded up C$0.85 during trading hours on Friday, hitting C$87.70. 257,000 shares of the company traded hands, compared to its average volume of 1,021,863. The stock has a market capitalization of C$48.86 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.33 and a beta of 0.77. Sun Life Financial has a twelve month low of C$74.56 and a twelve month high of C$91.11. The business’s 50-day moving average is C$83.85 and its 200-day moving average is C$83.93. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Wednesday, November 5th. The financial services provider reported C$1.86 earnings per share for the quarter. Sun Life Financial had a net margin of 7.58% and a return on equity of 15.69%. The business had revenue of C$9.07 billion for the quarter. Sell-side analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.