Cormark Raises Earnings Estimates for Sun Life Financial

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities research analysts at Cormark boosted their FY2024 earnings per share estimates for shares of Sun Life Financial in a research note issued on Tuesday, November 5th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $6.76 per share for the year, up from their previous forecast of $6.70. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.92 per share.

A number of other equities research analysts have also issued reports on SLF. National Bankshares increased their price target on Sun Life Financial from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 13th. Evercore cut their target price on Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. Jefferies Financial Group lifted their target price on Sun Life Financial from C$81.00 to C$89.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. CIBC upped their target price on shares of Sun Life Financial from C$80.00 to C$90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank lifted their price objective on Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$81.36.

Sun Life Financial Stock Performance

Shares of TSE SLF opened at C$82.63 on Thursday. The stock has a market cap of C$47.64 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 1 year low of C$64.38 and a 1 year high of C$82.86. The firm has a fifty day moving average price of C$77.10 and a 200-day moving average price of C$71.66. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, beating the consensus estimate of C$1.58 by C$0.13. The firm had revenue of C$8.92 billion during the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. Insiders own 0.03% of the company’s stock.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.84 dividend. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 dividend on an annualized basis and a yield of 4.07%. Sun Life Financial’s dividend payout ratio is 61.36%.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.