Barclays Issues Pessimistic Forecast for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective decreased by Barclays from C$84.00 to C$83.00 in a research report issued on Friday,BayStreet.CA reports. Barclays‘s price objective indicates a potential downside of 5.03% from the stock’s previous close.

Several other equities research analysts also recently weighed in on SLF. Cibc Captl Mkts downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada downgraded Sun Life Financial from a “moderate buy” rating to a “hold” rating in a research note on Friday, November 7th. CIBC lifted their target price on Sun Life Financial from C$93.00 to C$95.00 and gave the company a “neutral” rating in a research note on Thursday. TD Securities dropped 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 report on Monday, November 10th. One investment 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 company. Based on data from MarketBeat.com, Sun Life Financial currently has an average rating of “Hold” and an average target price of C$91.56.

Sun Life Financial Stock Performance

Shares of SLF opened at C$87.40 on Friday. The company’s 50 day simple moving average is C$83.89 and its 200-day simple moving average is C$83.89. The firm has a market cap of C$48.40 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. Sun Life Financial has a 12-month low of C$74.56 and a 12-month high of C$91.11. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported C$1.86 earnings per share 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%. As a group, equities analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

About Sun Life Financial

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.