Sun Life Financial Inc. to Post Q2 2021 Earnings of $1.16 Per Share, Desjardins Forecasts (NYSE:SLF)

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) – Equities research analysts at Desjardins reduced their Q2 2021 earnings estimates for shares of Sun Life Financial in a report released on Wednesday, July 21st. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $1.16 per share for the quarter, down from their previous forecast of $1.20.

SLF has been the subject of a number of other reports. TD Securities decreased their price objective on Sun Life Financial from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 6th. Barclays raised their price objective on Sun Life Financial from C$61.00 to C$62.00 and gave the stock an “underweight” rating in a research note on Monday, July 12th. Credit Suisse Group raised their price objective on Sun Life Financial from $67.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, April 30th. CIBC increased their target price on Sun Life Financial from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, May 7th. Finally, Scotiabank increased their price objective on Sun Life Financial from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Sun Life Financial has an average rating of “Buy” and a consensus target price of $68.80.

Shares of NYSE SLF opened at $51.08 on Thursday. The company’s 50 day moving average price is $52.27. Sun Life Financial has a 52-week low of $38.53 and a 52-week high of $55.07. The firm has a market capitalization of $29.91 billion, a PE ratio of 11.75, a P/E/G ratio of 1.19 and a beta of 1.05.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, May 5th. The financial services provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Sun Life Financial had a return on equity of 14.09% and a net margin of 8.04%. The company had revenue of $1.20 billion during the quarter.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Wednesday, May 26th were issued a $0.4487 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Tuesday, May 25th. This represents a $1.79 annualized dividend and a dividend yield of 3.51%. Sun Life Financial’s payout ratio is 20.00%.

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of Sun Life Financial by 31.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,399,365 shares of the financial services provider’s stock worth $879,263,000 after purchasing an additional 4,156,049 shares in the last quarter. FIL Ltd boosted its position in shares of Sun Life Financial by 11.4% during the 1st quarter. FIL Ltd now owns 16,013,124 shares of the financial services provider’s stock worth $809,258,000 after acquiring an additional 1,639,565 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Sun Life Financial by 0.3% during the 1st quarter. Bank of Nova Scotia now owns 9,330,007 shares of the financial services provider’s stock worth $471,500,000 after acquiring an additional 28,343 shares in the last quarter. Norges Bank acquired a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $357,664,000. Finally, CIBC Asset Management Inc boosted its position in shares of Sun Life Financial by 58.6% during the 1st quarter. CIBC Asset Management Inc now owns 7,608,031 shares of the financial services provider’s stock worth $384,182,000 after acquiring an additional 2,810,640 shares in the last quarter. 44.79% of the stock is currently owned by hedge funds and other institutional investors.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

Further Reading: Ex-Dividend

Earnings History and Estimates for Sun Life Financial (NYSE:SLF)

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