Financial services company Sun Life Financial (TSX:SLF)(NYSE:SLF), is set to report its 2020 Q2 earnings this Thursday, August 6. The company will report its earnings after the market’s close. 

One of the largest financial service companies in the world, Sun Life is valued at a market cap of more than $30 billion. The company is Canada’s second-largest insurance provider, behind Manulife Financial.

The financial services company focuses primarily on insurance, asset, and wealth management. Insurance coverage includes a long of insurance products, including health, disability, stop-loss, and long-term care. 

The majority of revenue today is driven by Canada and the US, but Sun Life has been investing aggressively in expanding across Asia. Management cited that they are seeing a shift of millions of Asians entering the middle-class, which would be a massive market opportunity for the financial services company. 

Why Sun Life is on my watch list

Sun Life has trailed the market this year, as the stock is down about 10% since the beginning of 2020. The company has gone on an impressive run since the end of March, but I believe the stock is still undervalued at today’s price.

The company trades today at a forward P/E ratio under 10. The price/earnings to growth ratio (PEG), …

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Market news summary from Motley Fool Market News.
Author: Nicholas Dobroruka

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