Sun Life Financial (TSE:SLF) PT Lowered to C$53.00

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Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective lowered by CIBC from C$54.00 to C$53.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

Several other equities research analysts also recently weighed in on the stock. Evercore ISI reiterated an outperform rating and set a C$63.00 target price on shares of Sun Life Financial in a research note on Monday, July 22nd. Canaccord Genuity increased their target price on shares of Sun Life Financial from C$52.00 to C$55.00 in a research note on Monday, April 29th. Evercore set a C$63.00 target price on shares of Sun Life Financial and gave the stock an outperform rating in a research note on Monday, July 22nd. Barclays downgraded shares of Sun Life Financial from an overweight rating to an equal weight rating and decreased their target price for the stock from C$58.00 to C$57.00 in a research note on Wednesday, June 12th. Finally, TD Securities reduced their price objective on shares of Sun Life Financial from C$61.00 to C$60.00 and set a buy rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Sun Life Financial has a consensus rating of Buy and a consensus price target of C$58.00.

Shares of SLF opened at C$52.42 on Friday. Sun Life Financial has a fifty-two week low of C$43.13 and a fifty-two week high of C$55.97. The firm has a market capitalization of $32.00 billion and a P/E ratio of 13.33. The business’s 50-day simple moving average is C$54.46. The company has a quick ratio of 451.94, a current ratio of 483.92 and a debt-to-equity ratio of 16.59.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Wednesday, May 8th. The financial services provider reported C$1.20 earnings per share for the quarter, missing the consensus estimate of C$1.21 by C($0.01). The firm had revenue of C$11.39 billion for the quarter. As a group, sell-side analysts forecast that Sun Life Financial will post 5.4499998 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, August 28th will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $2.10 dividend on an annualized basis and a yield of 4.01%. Sun Life Financial’s payout ratio is currently 53.41%.

In related news, Director Dean Connor sold 73,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$52.72, for a total value of C$3,848,560.00. Following the completion of the sale, the director now owns 86,047 shares in the company, valued at C$4,536,397.84. Also, Senior Officer Colm Joseph Freyne sold 17,730 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$53.54, for a total transaction of C$949,264.20.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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Analyst Recommendations for Sun Life Financial (TSE:SLF)

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