Sun Life Financial (NYSE:SLF) Posts Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Sun Life Financial (NYSE:SLF) (TSE:SLF) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.30, Briefing.com reports. Sun Life Financial had a net margin of 7.96% and a return on equity of 13.58%. During the same period in the previous year, the business posted $1.20 earnings per share.

Shares of SLF stock opened at $40.01 on Friday. The business has a 50 day moving average of $41.43. Sun Life Financial has a one year low of $31.49 and a one year high of $42.59. The firm has a market cap of $24.67 billion, a price-to-earnings ratio of 10.67 and a beta of 0.87.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, August 28th will be issued a $0.401 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Tuesday, August 27th. Sun Life Financial’s dividend payout ratio is currently 41.87%.

Several research firms have recently weighed in on SLF. ValuEngine cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays cut shares of Sun Life Financial from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 12th. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research note on Thursday, July 4th. Evercore ISI reissued an “outperform” rating on shares of Sun Life Financial in a research note on Monday, July 22nd. Finally, BMO Capital Markets reissued a “buy” rating and issued a $58.00 price target on shares of Sun Life Financial in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $51.50.

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. 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.

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Earnings History for Sun Life Financial (NYSE:SLF)

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