FY2023 Archives - In Class Book

Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) – Equities researchers at National Bank Financial increased their FY2023 EPS estimates for Sun Life Financial in a report issued on Thursday, April 7th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $5.70 per share for the year, up from their prior estimate of $5.63. National Bank Financial has a “Sector Perform” rating and a $77.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research reiterated a “hold” rating on shares of Sun Life Financial in a report on Thursday, March 17th. Scotiabank decreased their target price on shares of Sun Life Financial from C$78.00 to C$76.00 in a report on Friday, February 11th. BMO Capital Markets decreased their target price on shares of Sun Life Financial from C$81.00 to C$80.00 in a report on Friday, February 11th. Finally, StockNews.com began coverage on shares of Sun Life Financial in a report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.55.

Shares of SLF opened at $54.94 on Monday. The firm’s 50 day moving average is $54.60 and its 200-day moving average is $55.05. The stock has a market capitalization of $32.20 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.22 and a beta of 1.05. Sun Life Financial has a 12-month low of $48.85 and a 12-month high of $58.49.

Sun Life Financial (NYSE:SLF – Get Rating) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 9th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.01). The business had revenue of $10.31 billion during the quarter. Sun Life Financial had a return on equity of 13.96{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a net margin of 11.26{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. During the same quarter in the prior year, the company earned $1.13 earnings per share.

Several large investors have recently added to or reduced their stakes in the company. FIL Ltd raised its position in shares of Sun Life Financial by 12.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. FIL Ltd now owns 16,472,720 shares of the financial services provider’s stock valued at $847,955,000 after purchasing an additional 1,797,072 shares during the period. Mackenzie Financial Corp raised its position in shares of Sun Life Financial by 6.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. Mackenzie Financial Corp now owns 16,421,252 shares of the financial services provider’s stock valued at $843,908,000 after purchasing an additional 954,491 shares during the period. CIBC Asset Management Inc raised its position in shares of Sun Life Financial by 3.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the fourth quarter. CIBC Asset Management Inc now owns 7,654,688 shares of the financial services provider’s stock valued at $425,792,000 after purchasing an additional 290,601 shares during the period. 1832 Asset Management L.P. raised its position in shares of Sun Life Financial by 1.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the fourth quarter. 1832 Asset Management L.P. now owns 5,988,028 shares of the financial services provider’s stock valued at $333,201,000 after purchasing an additional 106,135 shares during the period. Finally, Norges Bank bought a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $297,493,000. 47.16{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is currently owned by institutional investors.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Wednesday, March 2nd were given a $0.5191 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, March 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.78{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Sun Life Financial’s dividend payout ratio (DPR) is currently 39.02{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

About Sun Life Financial (Get Rating)

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 personal 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.

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Range Resources Co. (NYSE:RRC – Get Rating) – Equities research analysts at KeyCorp issued their FY2023 earnings estimates for Range Resources in a research note issued on Wednesday, February 23rd. KeyCorp analyst L. Mariani forecasts that the oil and gas exploration company will earn $2.41 per share for the year. Range Resources (NYSE:RRC – Get Rating) last posted its quarterly earnings data on Monday, February 21st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.02). Range Resources had a negative net margin of 22.48{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a positive return on equity of 17.74{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $871.99 million. During the same quarter in the previous year, the firm earned $0.02 EPS. Range Resources’s revenue was up 161.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the same quarter last year.

Several other brokerages have also issued reports on RRC. Morgan Stanley reduced their target price on Range Resources from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 25th. JPMorgan Chase & Co. increased their price objective on Range Resources from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Susquehanna Bancshares increased their price objective on Range Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial cut their price objective on Range Resources from $27.00 to $24.00 in a report on Friday, January 14th. Finally, Zacks Investment Research lowered Range Resources from a “hold” rating to a “sell” rating and set a $19.00 price objective on the stock. in a report on Thursday, January 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.50.

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RRC opened at $23.87 on Friday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -13.04, a PEG ratio of 0.19 and a beta of 2.22. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.31. Range Resources has a 12 month low of $8.47 and a 12 month high of $26.48. The stock has a fifty day moving average price of $19.65 and a 200-day moving average price of $19.76.

Range Resources declared that its board has initiated a stock buyback program on Tuesday, February 22nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas exploration company to reacquire up to 9.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC increased its position in shares of Range Resources by 4.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,208,601 shares of the oil and gas exploration company’s stock worth $185,761,000 after purchasing an additional 313,811 shares in the last quarter. JPMorgan Chase & Co. increased its position in Range Resources by 223.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 4th quarter. JPMorgan Chase & Co. now owns 6,093,208 shares of the oil and gas exploration company’s stock valued at $108,642,000 after acquiring an additional 4,209,030 shares during the period. Goldman Sachs Group Inc. increased its position in Range Resources by 79.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,877,965 shares of the oil and gas exploration company’s stock valued at $81,755,000 after acquiring an additional 2,166,302 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Range Resources by 0.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,968,245 shares of the oil and gas exploration company’s stock valued at $70,754,000 after acquiring an additional 33,119 shares during the period. Finally, Northern Trust Corp increased its position in Range Resources by 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Northern Trust Corp now owns 3,254,455 shares of the oil and gas exploration company’s stock valued at $54,544,000 after acquiring an additional 9,487 shares during the period. 91.16{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by institutional investors.

Range Resources Company Profile (Get Rating)

Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.

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Tag: FY2023

Research Analysts Offer Predictions for Sun Life Financial Inc.’s FY2023 Earnings (NYSE:SLF)