Sunlight Financial Holdings Inc. (NYSE:SUNL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Sunlight Financial Holdings Inc. (NYSE:SUNL – Get Rating) have been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $8.67.

A number of brokerages have recently commented on SUNL. Citigroup lowered their price objective on Sunlight Financial from $10.00 to $6.00 in a report on Sunday, April 10th. Credit Suisse Group lowered their target price on Sunlight Financial from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, March 31st. Finally, Zacks Investment Research lowered Sunlight Financial from a “hold” rating to a “sell” rating in a report on Friday, April 1st.

Shares of NYSE SUNL opened at $4.45 on Thursday. The firm has a market cap of $589.10 million, a price-to-earnings ratio of -3.09 and a beta of 1.09. The business’s 50-day simple moving average is $4.42 and its 200-day simple moving average is $4.15. Sunlight Financial has a 52 week low of $2.41 and a 52 week high of $10.08.

Sunlight Financial (NYSE:SUNL – Get Rating) last issued its quarterly earnings data on Monday, May 16th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $28.23 million during the quarter, compared to analyst estimates of $31.80 million. As a group, analysts predict that Sunlight Financial will post 0.29 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in SUNL. BlackRock Inc. bought a new stake in shares of Sunlight Financial in the 3rd quarter worth approximately $506,000. Geode Capital Management LLC bought a new stake in shares of Sunlight Financial in the 3rd quarter worth approximately $434,000. Franklin Resources Inc. bought a new stake in shares of Sunlight Financial in the 3rd quarter worth approximately $9,862,000. Neuberger Berman Group LLC bought a new stake in shares of Sunlight Financial in the 3rd quarter worth approximately $15,545,000. Finally, FIL Ltd bought a new position in shares of Sunlight Financial during the 3rd quarter worth approximately $1,299,000. Institutional investors own 30.14% of the company’s stock.

About Sunlight Financial (Get Rating)

Sunlight Financial Holdings Inc operates a business-to-business-to-consumer technology-enabled point-of-sale financing platform in the United States. Its platform is used to provide secured and unsecured loans for homeowners originated by third-party lenders to purchase and install residential solar energy systems, and other home improvements.

Further Reading

• Get a free copy of the StockNews.com research report on Sunlight Financial (SUNL)
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