Sun Life Financial Rating Reiterated by Zacks (SLF)
Sun Life Financial (NYSE:SLF)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Friday, Stock Ratings Network reports. They currently have a $33.00 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 3.29% from the company’s current price.
Zacks‘ analyst wrote, “Sun Life Financial has been performing strongly over the past many quarters and we expect the trend to continue given its diversified business profile. Though headquartered in Canada, the insurer has a significant presence in U.S., and is also growing aggressively in Asia by developing its life insurance and wealth management lines of business there. The company has been aggressively re-designing its products, reducing interest rate and market risk, improving pricing, and focusing on higher growth and return segments. Further its alignment of product mix in the U.S. and thrust on growing the highly profitable global asset management business is expected to drive long-term earnings growth. Nevertheless, the company will continue to face earnings pressure due to headwinds such as the ongoing macro and regulatory uncertainties. These have contributed to a negative backdrop for interest rates, equity market returns, and hedging costs. We thus maintain our Neutral recommendation on Sun Life. “
Sun Life Financial (NYSE:SLF) traded up 0.66% on Friday, hitting $31.95. 90,650 shares of the company’s stock traded hands. Sun Life Financial has a one year low of $23.62 and a one year high of $32.99. The stock has a 50-day moving average of $31.76 and a 200-day moving average of $29.97. The company has a market cap of $19.362 billion and a price-to-earnings ratio of 11.16.
Sun Life Financial (NYSE:SLF) last announced its earnings results on Wednesday, August 7th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.05. On average, analysts predict that Sun Life Financial will post $2.77 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets upgraded shares of Sun Life Financial (NYSE:SLF) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, August 8th. They now have a $37.00 price target on the stock, up previously from $32.00. Analysts at Barclays Capital initiated coverage on shares of Sun Life Financial (NYSE:SLF) in a research note to investors on Wednesday, August 7th. They set an “equal weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $29.83.
Sun Life Financial Inc (NYSE:SLF) is the holding company of Sun Life Assurance Company of Canada (Sun Life Assurance).
To view Zacks’ full report, visit www.zacks.com
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