Equities Analysts Offer Predictions for Sun Life Financial Inc.’s Q3 2017 Earnings (SLF)
Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Investment analysts at Desjardins increased their Q3 2017 EPS estimates for shares of Sun Life Financial in a report released on Tuesday. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.77. Desjardins also issued estimates for Sun Life Financial’s Q4 2017 earnings at $0.79 EPS, FY2017 earnings at $3.17 EPS, FY2018 earnings at $3.39 EPS and FY2019 earnings at $3.66 EPS.
A number of other research analysts have also weighed in on SLF. Morgan Stanley increased their price objective on Sun Life Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. BidaskClub raised Sun Life Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. TD Securities increased their price objective on Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, Bank of America Corporation raised Sun Life Financial from an “underperform” rating to a “hold” rating in a report on Monday, July 10th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.00.
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Shares of Sun Life Financial (NYSE:SLF) opened at 39.89 on Thursday. The company has a market capitalization of $24.48 billion, a P/E ratio of 11.54 and a beta of 0.88. The firm’s 50 day moving average price is $39.03 and its 200-day moving average price is $36.54. Sun Life Financial has a 1-year low of $32.03 and a 1-year high of $40.57.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.09. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $7.36 billion. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Wednesday, August 30th were issued a dividend of $0.3439 per share. This represents a $1.38 annualized dividend and a yield of 3.45%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 43.85%.
Sun Life Financial announced that its board has approved a stock repurchase program on Wednesday, August 9th that authorizes the company to buyback 11,500,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of SLF. Jones Collombin Investment Counsel Inc grew its holdings in Sun Life Financial by 20.2% during the second quarter. Jones Collombin Investment Counsel Inc now owns 2,826 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 475 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in Sun Life Financial by 24.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,475 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 888 shares during the period. Captrust Financial Advisors acquired a new stake in Sun Life Financial during the second quarter worth about $162,000. Tower Research Capital LLC TRC grew its holdings in Sun Life Financial by 147.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,628 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 2,163 shares during the period. Finally, Advisory Services Network LLC grew its holdings in Sun Life Financial by 0.7% during the second quarter. Advisory Services Network LLC now owns 5,338 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 38 shares during the period. 40.90% of the stock is currently owned by hedge funds and other institutional investors.
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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