Sun Life Financial (TSE:SLF) Announces Quarterly Earnings Results

Sun Life Financial (TSE:SLF) (NYSE:SLF) announced its quarterly earnings data on Wednesday. The financial services provider reported C$1.89 EPS for the quarter, FiscalAI reports. The company had revenue of C$8.73 billion for the quarter. Sun Life Financial had a return on equity of 14.68% and a net margin of 9.74%.

Sun Life Financial Stock Down 4.8%

SLF stock traded down C$4.74 during trading on Thursday, reaching C$94.79. 3,746,050 shares of the company traded hands, compared to its average volume of 2,016,413. Sun Life Financial has a 12 month low of C$77.38 and a 12 month high of C$101.15. The business has a 50 day simple moving average of C$90.50 and a 200 day simple moving average of C$87.33. The company has a market capitalization of C$52.51 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73. The company has a debt-to-equity ratio of 74.49, a quick ratio of 84,866.00 and a current ratio of 2.78.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a yield of 3.9%. Sun Life Financial’s dividend payout ratio (DPR) is presently 57.24%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. TD upped their price objective on Sun Life Financial from C$102.00 to C$107.00 and gave the company a “buy” rating in a research report on Thursday. Scotiabank increased their price target on Sun Life Financial from C$93.00 to C$96.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. BMO Capital Markets increased their price target on Sun Life Financial from C$95.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Desjardins set a C$101.00 price target on Sun Life Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Canadian Imperial Bank of Commerce increased their price target on Sun Life Financial from C$93.00 to C$95.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$100.40.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.