Zacks: Analysts Anticipate Sun Life Financial Inc. (NYSE:SLF) Will Post Earnings of $0.96 Per Share

Brokerages expect Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) to post $0.96 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Sun Life Financial’s earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.84. Sun Life Financial reported earnings per share of $1.02 during the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 10th.

On average, analysts expect that Sun Life Financial will report full-year earnings of $4.16 per share for the current year, with EPS estimates ranging from $4.10 to $4.21. For the next fiscal year, analysts forecast that the firm will post earnings of $4.15 per share, with EPS estimates ranging from $3.71 to $4.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Sun Life Financial.

SLF has been the subject of several research analyst reports. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Monday, January 18th. Royal Bank of Canada downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating and set a $69.00 price target for the company. in a report on Thursday, January 14th. They noted that the move was a valuation call. Scotiabank upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, January 29th. BMO Capital Markets upped their price target on shares of Sun Life Financial from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Finally, Credit Suisse Group upped their price target on shares of Sun Life Financial from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.36.

Sun Life Financial stock traded up $0.30 during midday trading on Monday, reaching $48.02. 255,416 shares of the company’s stock were exchanged, compared to its average volume of 457,261. The stock’s 50-day simple moving average is $46.27 and its 200 day simple moving average is $43.36. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.30 and a beta of 1.07. Sun Life Financial has a 52 week low of $24.37 and a 52 week high of $50.13.

Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN boosted its position in Sun Life Financial by 30.9% during the third quarter. Wells Fargo & Company MN now owns 40,669 shares of the financial services provider’s stock valued at $1,656,000 after acquiring an additional 9,595 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Sun Life Financial by 205.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 244,201 shares of the financial services provider’s stock worth $10,850,000 after purchasing an additional 164,169 shares in the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Sun Life Financial by 44.5% during the 4th quarter. Clark Capital Management Group Inc. now owns 852,334 shares of the financial services provider’s stock worth $37,895,000 after purchasing an additional 262,317 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Sun Life Financial during the 2nd quarter worth about $214,000. Finally, CWM LLC boosted its position in shares of Sun Life Financial by 42.5% during the 3rd quarter. CWM LLC now owns 4,108 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 1,225 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

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 in the United States, the United Kingdom, Canada, and internationally. It offers life, health, wellness, disability, critical illness, stop-loss, and long-term care insurance products.

Further Reading: What impact do institutional investors have on markets?

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