Wall Street brokerages predict that Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) will post earnings per share (EPS) of $0.99 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Sun Life Financial’s earnings, with estimates ranging from $0.97 to $1.01. Sun Life Financial reported earnings of $0.90 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The firm is scheduled to announce its next earnings report on Wednesday, May 13th.
On average, analysts expect that Sun Life Financial will report full year earnings of $4.15 per share for the current year, with EPS estimates ranging from $4.07 to $4.26. For the next financial year, analysts forecast that the company will report earnings of $4.43 per share, with EPS estimates ranging from $4.30 to $4.54. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Sun Life Financial.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.36. Sun Life Financial had a return on equity of 13.62% and a net margin of 6.72%. The business had revenue of $8.53 billion for the quarter. During the same quarter in the previous year, the company posted $1.19 EPS. The business’s revenue was up 4.2% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. Canaccord Genuity increased their price target on Sun Life Financial from $56.00 to $58.00 in a research report on Monday, October 28th. TD Securities reissued a “buy” rating and set a $72.00 price target on shares of Sun Life Financial in a research report on Thursday, February 13th. National Bank Financial downgraded Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 7th. Royal Bank of Canada reissued a “hold” rating and set a $67.00 price target on shares of Sun Life Financial in a research report on Friday, February 14th. Finally, Cfra upped their target price on Sun Life Financial from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $59.70.
Shares of Sun Life Financial stock traded down $0.23 on Friday, hitting $49.25. The stock had a trading volume of 422,290 shares, compared to its average volume of 432,081. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.33 and a beta of 0.81. Sun Life Financial has a twelve month low of $37.25 and a twelve month high of $50.13. The business’s 50 day moving average is $48.07 and its two-hundred day moving average is $44.83.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Sunday, March 1st will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, February 27th. Sun Life Financial’s payout ratio is 42.93%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Savior LLC acquired a new stake in Sun Life Financial in the fourth quarter valued at $31,000. Firestone Capital Management acquired a new stake in Sun Life Financial in the fourth quarter valued at $33,000. Pacifica Partners Inc. acquired a new stake in Sun Life Financial in the fourth quarter valued at $37,000. Great Diamond Partners LLC acquired a new stake in Sun Life Financial in the fourth quarter valued at $67,000. Finally, Parallel Advisors LLC increased its holdings in Sun Life Financial by 86.8% in the third quarter. Parallel Advisors LLC now owns 1,545 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 718 shares during the period. Institutional investors own 43.56% of the company’s stock.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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