Brokerages expect Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) to report $0.93 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Sun Life Financial’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.90. Sun Life Financial also reported earnings of $0.93 per share during the same quarter last year. The business is scheduled to report its next quarterly earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Sun Life Financial will report full-year earnings of $3.72 per share for the current fiscal year, with EPS estimates ranging from $3.65 to $3.82. For the next fiscal year, analysts forecast that the business will report earnings of $4.02 per share, with EPS estimates ranging from $3.94 to $4.12. Zacks Investment Research’s earnings per share 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 quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.29. Sun Life Financial had a net margin of 7.96% and a return on equity of 13.58%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $7.35 billion. During the same period last year, the firm earned $1.26 earnings per share. The firm’s revenue was up 90.1% on a year-over-year basis.
Several brokerages have commented on SLF. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Sun Life Financial in a research report on Friday, April 26th. ValuEngine raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. CIBC lowered shares of Sun Life Financial from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $53.00 to $54.00 in a research report on Thursday, March 14th. Scotiabank reaffirmed a “hold” rating and issued a $54.00 price objective on shares of Sun Life Financial in a research report on Wednesday, February 20th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Sun Life Financial in a research report on Tuesday, February 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Sun Life Financial has a consensus rating of “Hold” and an average price target of $52.60.
A number of hedge funds have recently made changes to their positions in SLF. Norges Bank bought a new stake in Sun Life Financial in the fourth quarter worth about $156,689,000. Mackenzie Financial Corp raised its position in Sun Life Financial by 53.2% in the fourth quarter. Mackenzie Financial Corp now owns 8,668,680 shares of the financial services provider’s stock worth $287,713,000 after acquiring an additional 3,009,510 shares during the period. Beutel Goodman & Co Ltd. raised its position in shares of Sun Life Financial by 10.7% in the first quarter. Beutel Goodman & Co Ltd. now owns 14,207,568 shares of the financial services provider’s stock valued at $545,823,000 after purchasing an additional 1,374,903 shares during the period. Toronto Dominion Bank raised its position in shares of Sun Life Financial by 33.6% in the first quarter. Toronto Dominion Bank now owns 3,986,188 shares of the financial services provider’s stock valued at $153,562,000 after purchasing an additional 1,002,332 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Sun Life Financial by 17.4% in the first quarter. CIBC Asset Management Inc now owns 6,374,052 shares of the financial services provider’s stock valued at $244,877,000 after purchasing an additional 944,977 shares during the period. 41.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of SLF traded up $0.62 during trading hours on Friday, reaching $40.09. 3,419,924 shares of the stock traded hands, compared to its average volume of 525,337. Sun Life Financial has a 52 week low of $31.49 and a 52 week high of $42.75. The firm has a market capitalization of $23.84 billion, a P/E ratio of 10.69 and a beta of 0.88.
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: Cash Asset Ratio
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