Q2 2023 EPS Estimates for Sun Life Financial Inc. (NYSE:SLF) Raised by Analyst

Posted by Defense World Staff on Jul 22nd, 2023

Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) – Research analysts at Desjardins increased their Q2 2023 earnings per share (EPS) estimates for Sun Life Financial in a report issued on Wednesday, July 19th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings of $1.16 per share for the quarter, up from their prior forecast of $1.15. The consensus estimate for Sun Life Financial’s current full-year earnings is $4.70 per share. Desjardins also issued estimates for Sun Life Financial’s FY2023 earnings at $4.77 EPS and FY2024 earnings at $5.13 EPS.

Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last issued its earnings results on Thursday, May 11th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Sun Life Financial had a return on equity of 14.29% and a net margin of 8.90%. The company had revenue of $8.86 billion during the quarter.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 15th. StockNews.com assumed coverage on Sun Life Financial in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Sun Life Financial Trading Up 0.4 %

Shares of NYSE SLF opened at $52.58 on Friday. The stock has a 50 day simple moving average of $50.53 and a 200-day simple moving average of $48.96. The company has a market cap of $30.85 billion, a PE ratio of 13.62, a P/E/G ratio of 1.37 and a beta of 1.01. Sun Life Financial has a 12-month low of $37.96 and a 12-month high of $52.58.

Sun Life Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were issued a dividend of $0.554 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $2.22 annualized dividend and a yield of 4.21%. Sun Life Financial’s payout ratio is 57.25%.

Institutional Investors Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. bought a new position in shares of Sun Life Financial in the second quarter valued at $25,000. Money Concepts Capital Corp bought a new position in shares of Sun Life Financial in the fourth quarter valued at $26,000. Spire Wealth Management bought a new position in shares of Sun Life Financial in the first quarter valued at $27,000. Financial Gravity Asset Management Inc. bought a new position in shares of Sun Life Financial in the first quarter valued at $31,000. Finally, Achmea Investment Management B.V. bought a new position in shares of Sun Life Financial in the first quarter valued at $32,000. Institutional investors own 41.72% of the company’s stock.

Sun Life Financial Company Profile

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.