Desjardins Analysts Reduce Earnings Estimates for Sun Life Financial Inc (TSE:SLF) Posted by Logan Wallace
Sun Life Financial Inc (TSE:SLF) (NYSE:SLF) – Stock analysts at Desjardins lowered their Q2 2019 EPS estimates for shares of Sun Life Financial in a report issued on Monday, July 22nd. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $1.19 for the quarter, down from their previous estimate of $1.22. Desjardins also issued estimates for Sun Life Financial’s Q3 2019 earnings at $1.25 EPS, Q4 2019 earnings at $1.24 EPS and FY2020 earnings at $5.31 EPS. Get Sun Life Financial alerts:
Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$1.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$1.21 by C($0.01). The business had revenue of C$11.39 billion during the quarter. Other research analysts have also issued research reports about the company. National Bank Financial cut their price objective on Timbercreek Financial from C$10.25 to C$10.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Barclays lowered Axel Springer from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 12th. Eight Capital raised their price objective on Tamarack Valley Energy from C$4.00 to C$4.25 in a research report on Friday, May 10th. Canaccord Genuity increased their price target on shares of TransAlta Renewables from C$12.50 to C$13.00 in a report on Monday, April 29th. Finally, Evercore set a C$63.00 price target on shares of Sun Life Financial and gave the company an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$57.82.
Shares of SLF stock opened at C$55.46 on Tuesday. Sun Life Financial has a 52-week low of C$43.13 and a 52-week high of C$55.97. The company has a debt-to-equity ratio of 18.26, a current ratio of 483.92 and a quick ratio of 451.94. The stock has a market cap of $32.82 billion and a price-to-earnings ratio of 13.56. The business has a fifty day simple moving average of C$54.27.
In other Sun Life Financial news, Senior Officer Colm Joseph Freyne sold 17,730 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$53.54, for a total value of C$949,264.20. Also, Director Dean Connor sold 73,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$52.72, for a total transaction of C$3,848,560.00. Following the completion of the sale, the director now directly owns 86,047 shares of the company’s stock, valued at approximately C$4,536,397.84.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, May 29th were issued a $0.525 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, May 28th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.79%. Sun Life Financial’s dividend payout ratio (DPR) is presently 47.68%.
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 worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
