Scotiabank Sticks to Their Buy Rating for Sagicor Financial (SGCFF)
In a report released on May 14, Meny Grauman from Scotiabank reiterated a Buy rating on Sagicor Financial (SGCFF – Research Report), with a price target of C$12.00. The company's shares closed last Tuesday at $5.60.
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Grauman covers the Financial sector, focusing on stocks such as Bank Of Montreal, Royal Bank Of Canada, and Toronto Dominion Bank. According to TipRanks, Grauman has an average return of 11.0% and a 62.79% success rate on recommended stocks.
Currently, the analyst consensus on Sagicor Financial is a Strong Buy with an average price target of $7.69, implying a 37.32% upside from current levels. In a report released on May 14, RBC Capital also maintained a Buy rating on the stock with a C$9.00 price target.
Based on Sagicor Financial's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $324.23 million and a net profit of $52.41 million. In comparison, last year the company earned a revenue of $1.12 billion and had a net profit of $485.34 million
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SGCFF in relation to earlier this year.
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