Scotiabank Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective lifted by Scotiabank from C$87.00 to C$93.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s target price indicates a potential upside of 4.75% from the company’s current price.

SLF has been the subject of several other reports. National Bankshares reduced their price objective on Sun Life Financial from C$94.00 to C$93.00 in a research note on Thursday, November 6th. Jefferies Financial Group increased their price target on shares of Sun Life Financial from C$96.00 to C$98.00 in a research report on Monday, November 10th. Cibc Captl Mkts downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada set a C$84.00 price objective on shares of Sun Life Financial and gave the company a “sector perform” rating in a research note on Monday, January 19th. Finally, BMO Capital Markets decreased their target price on shares of Sun Life Financial from C$99.00 to C$95.00 in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$93.22.

Sun Life Financial Trading Down 0.9%

Shares of Sun Life Financial stock traded down C$0.84 during trading on Thursday, hitting C$88.78. The stock had a trading volume of 1,782,454 shares, compared to its average volume of 1,473,033. Sun Life Financial has a 1 year low of C$74.56 and a 1 year high of C$91.11. The stock has a 50 day simple moving average of C$85.07 and a 200 day simple moving average of C$83.84. The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. The company has a market capitalization of C$49.17 billion, a PE ratio of 16.81, a P/E/G ratio of 1.33 and a beta of 0.73.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported C$1.86 EPS for the quarter. The firm had revenue of C$9.07 billion during the quarter. Sun Life Financial had a net margin of 7.58% and a return on equity of 15.69%. On average, research analysts expect that Sun Life Financial will post 6.9230769 EPS for the current fiscal 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.