Equities analysts predict that Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) will post earnings of $0.97 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Sun Life Financial’s earnings. The highest EPS estimate is $1.01 and the lowest is $0.94. Sun Life Financial reported earnings of $0.92 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 6th.
On average, analysts expect that Sun Life Financial will report full year earnings of $3.77 per share for the current financial year, with EPS estimates ranging from $3.64 to $3.88. For the next fiscal year, analysts anticipate that the business will post earnings of $4.09 per share, with EPS estimates ranging from $4.00 to $4.22. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Sun Life Financial.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.30. Sun Life Financial had a return on equity of 13.37% and a net margin of 6.83%. The business had revenue of $7.59 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the firm earned $1.20 EPS.
SLF has been the subject of a number of recent analyst reports. Barclays boosted their target price on Sun Life Financial from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday. ValuEngine lowered Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Argus boosted their price target on Sun Life Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 1st. BMO Capital Markets set a $60.00 price target on Sun Life Financial and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research note on Thursday, July 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.00.
Shares of NYSE:SLF opened at $44.03 on Wednesday. Sun Life Financial has a fifty-two week low of $31.49 and a fifty-two week high of $45.05. The business has a 50-day simple moving average of $42.87 and a two-hundred day simple moving average of $41.01. The firm has a market cap of $25.87 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.25 and a beta of 0.91.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.401 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Tuesday, August 27th. Sun Life Financial’s payout ratio is currently 42.40%.
Several institutional investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at about $76,000. UBS Group AG grew its stake in shares of Sun Life Financial by 23.7% during the 2nd quarter. UBS Group AG now owns 476,011 shares of the financial services provider’s stock valued at $19,688,000 after purchasing an additional 91,168 shares during the period. HM Payson & Co. bought a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $31,000. Amundi Pioneer Asset Management Inc. grew its stake in shares of Sun Life Financial by 24.6% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,413,174 shares of the financial services provider’s stock valued at $58,449,000 after purchasing an additional 279,121 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its stake in shares of Sun Life Financial by 101.6% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 28,635,836 shares of the financial services provider’s stock valued at $1,143,296,000 after acquiring an additional 14,428,268 shares during the period. Institutional investors and hedge funds own 40.04% of the company’s stock.
Sun Life Financial Company Profile
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.
Further Reading: Understanding the Price to Earnings Ratio (PE)
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