Suncorp’s (SUN.ASX) FY16 earnings result was below consensus with core earnings of $1.1b. Total FY16 GI margins were down on the same time last year. Banking profit of $390m was ahead of consensus.
FY17 outlook for $1.2b profit with 2- 3% EPS growth and dividends per share (DPS) of $0.76 placing the stock on a forward yield of 5.8%
No signal present.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks