Q3 2018 EPS Estimates for Sun Life Financial Inc Boosted by Cormark (SLF)

Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) – Investment analysts at Cormark lifted their Q3 2018 earnings per share estimates for Sun Life Financial in a research note issued on Thursday, November 1st. Cormark analyst M. Grauman now expects that the financial services provider will earn $0.91 per share for the quarter, up from their prior estimate of $0.89. Cormark also issued estimates for Sun Life Financial’s Q4 2018 earnings at $0.91 EPS and FY2018 earnings at $3.69 EPS.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.32. The company had revenue of $5.29 billion for the quarter. Sun Life Financial had a return on equity of 13.44% and a net margin of 9.24%. During the same quarter in the prior year, the company posted $1.12 EPS.

A number of other equities analysts also recently issued reports on the company. Desjardins reiterated a “buy” rating on shares of Sun Life Financial in a research report on Tuesday, October 16th. Zacks Investment Research upgraded Sun Life Financial from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, October 10th. ValuEngine downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Evercore ISI initiated coverage on Sun Life Financial in a research report on Tuesday, July 10th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $53.75.

Shares of SLF stock opened at $37.40 on Friday. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 11.69 and a beta of 0.83. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.20. Sun Life Financial has a 12-month low of $35.78 and a 12-month high of $44.50.

Several institutional investors have recently made changes to their positions in the business. Suntrust Banks Inc. raised its holdings in shares of Sun Life Financial by 22.3% during the first quarter. Suntrust Banks Inc. now owns 6,707 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 1,225 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sun Life Financial by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,804 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 1,330 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Sun Life Financial by 1.7% during the second quarter. Vident Investment Advisory LLC now owns 83,137 shares of the financial services provider’s stock valued at $3,344,000 after acquiring an additional 1,365 shares during the last quarter. K.J. Harrison & Partners Inc raised its holdings in shares of Sun Life Financial by 19.2% during the second quarter. K.J. Harrison & Partners Inc now owns 10,255 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Sun Life Financial during the second quarter valued at approximately $68,346,000. 41.50% of the stock is owned by institutional investors and hedge funds.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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

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