Sun Life Financial (TSE:SLF) Stock Price Crosses Above 200 Day Moving Average – Here’s Why
by Michael Walen · The Markets DailySun Life Financial Inc. (TSE:SLF – Get Free Report) (NYSE:SLF) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$84.82 and traded as high as C$89.41. Sun Life Financial shares last traded at C$89.36, with a volume of 1,461,153 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SLF. TD Securities lowered their price target on Sun Life Financial from C$104.00 to C$102.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Scotiabank raised their price objective on Sun Life Financial from C$93.00 to C$96.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. Jefferies Financial Group boosted their price objective on Sun Life Financial from C$97.00 to C$103.00 in a research report on Friday, February 13th. Desjardins upped their target price on Sun Life Financial from C$96.00 to C$101.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, National Bank Financial reduced their target price on Sun Life Financial from C$94.00 to C$93.00 in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$96.44.
Sun Life Financial Price Performance
The company’s 50 day moving average price is C$88.02 and its 200 day moving average price is C$84.85. The company has a debt-to-equity ratio of 74.49, a quick ratio of 84,866.00 and a current ratio of 2.78. The company has a market cap of C$48.81 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.33 and a beta of 0.76.
Sun Life Financial (TSE:SLF – Get Free Report) (NYSE:SLF) last announced its earnings results on Wednesday, February 11th. The financial services provider reported C$1.96 earnings per share (EPS) for the quarter. The business had revenue of C$8.67 billion during the quarter. Sun Life Financial had a net margin of 9.74% and a return on equity of 14.68%. On average, equities research analysts predict that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current fiscal year.
Sun Life Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.92 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.2%. Sun Life Financial’s payout ratio is 57.24%.
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.