$0.75 Earnings Per Share Expected for Sun Life Financial Inc (SLF) This Quarter
Analysts expect that Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) will post $0.75 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have provided estimates for Sun Life Financial’s earnings. Sun Life Financial posted earnings of $0.63 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 19%. The business is expected to report its next earnings report after the market closes on Wednesday, May 10th.
On average, analysts expect that Sun Life Financial will report full-year earnings of $3.05 per share for the current financial year. For the next financial year, analysts forecast that the business will post earnings of $3.29 per share, with EPS estimates ranging from $3.26 to $3.32. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Sun Life Financial.
SLF has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Sun Life Financial from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, January 10th. Argus cut Sun Life Financial from a “buy” rating to a “hold” rating in a report on Friday, December 23rd. They noted that the move was a valuation call. Scotiabank cut Sun Life Financial from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, February 16th. Finally, Royal Bank of Canada cut Sun Life Financial from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $53.00 to $51.00 in a report on Friday, February 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $46.10.
Sun Life Financial (NYSE:SLF) traded up 1.46% on Monday, reaching $35.46. 475,720 shares of the company’s stock traded hands. Sun Life Financial has a 52 week low of $30.38 and a 52 week high of $40.57. The firm has a 50-day moving average price of $36.11 and a 200-day moving average price of $36.96. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 11.81 and a beta of 1.14.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 3rd were issued a dividend of $0.321 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.62%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, March 1st. Sun Life Financial’s dividend payout ratio (DPR) is 44.48%.
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Institutional investors have recently made changes to their positions in the stock. Beutel Goodman & Co Ltd. purchased a new position in shares of Sun Life Financial during the first quarter worth approximately $221,905,000. 1832 Asset Management L.P. boosted its position in shares of Sun Life Financial by 70.0% in the third quarter. 1832 Asset Management L.P. now owns 10,620,902 shares of the financial services provider’s stock worth $345,730,000 after buying an additional 4,374,337 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Sun Life Financial during the third quarter worth approximately $122,394,000. FMR LLC boosted its position in shares of Sun Life Financial by 20.5% in the fourth quarter. FMR LLC now owns 17,189,664 shares of the financial services provider’s stock worth $659,984,000 after buying an additional 2,927,462 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of Sun Life Financial by 866.3% in the fourth quarter. Fiera Capital Corp now owns 2,035,846 shares of the financial services provider’s stock worth $78,028,000 after buying an additional 1,825,158 shares during the period. Institutional investors own 44.41% of the company’s stock.
About Sun Life Financial
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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