Q3 2017 EPS Estimates for Sun Life Financial Inc. (SLF) Increased by National Bank Financial
Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities research analysts at National Bank Financial lifted their Q3 2017 EPS estimates for Sun Life Financial in a research note issued to investors on Wednesday. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.70. National Bank Financial has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2017 earnings at $0.79 EPS, Q1 2018 earnings at $0.84 EPS, Q2 2018 earnings at $0.85 EPS and FY2018 earnings at $3.41 EPS.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $7.36 billion. Sun Life Financial had a return on equity of 13.32% and a net margin of 12.48%. The business’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. ILLEGAL ACTIVITY WARNING: “Q3 2017 EPS Estimates for Sun Life Financial Inc. (SLF) Increased by National Bank Financial” was originally published by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/11/q3-2017-eps-estimates-for-sun-life-financial-inc-slf-increased-by-national-bank-financial.html.
A number of other analysts also recently commented on the company. Zacks Investment Research raised Sun Life Financial from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Tuesday, April 25th. Royal Bank Of Canada raised Sun Life Financial from a “sector perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Wednesday, June 7th. Credit Suisse Group lowered Sun Life Financial from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 10th. ValuEngine raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, BidaskClub raised Sun Life Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.83.
Sun Life Financial (NYSE:SLF) opened at 37.46 on Friday. Sun Life Financial has a 52-week low of $30.38 and a 52-week high of $40.57. The firm’s 50 day moving average price is $36.91 and its 200 day moving average price is $36.18. The firm has a market cap of $22.99 billion, a price-to-earnings ratio of 11.62 and a beta of 0.88.
Several institutional investors have recently bought and sold shares of SLF. Jones Collombin Investment Counsel Inc raised its position in Sun Life Financial by 20.2% in the second quarter. Jones Collombin Investment Counsel Inc now owns 2,826 shares of the financial services provider’s stock worth $101,000 after buying an additional 475 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Sun Life Financial by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,587 shares of the financial services provider’s stock worth $131,000 after buying an additional 17 shares during the last quarter. Captrust Financial Advisors bought a new position in Sun Life Financial during the second quarter worth approximately $162,000. Rational Advisors LLC raised its position in Sun Life Financial by 14.3% in the first quarter. Rational Advisors LLC now owns 4,538 shares of the financial services provider’s stock worth $166,000 after buying an additional 567 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Sun Life Financial during the first quarter worth approximately $194,000. 43.01% of the stock is owned by hedge funds and other institutional investors.
Sun Life Financial declared that its board has approved a share buyback program on Wednesday, August 9th that authorizes the company to repurchase 11,500,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be issued a $0.3439 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 40.06%.
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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