Brokers Set Expectations for TSE:SLF FY2024 Earnings

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Analysts at National Bank Financial raised their FY2024 EPS estimates for Sun Life Financial in a research report issued on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $6.77 per share for the year, up from their previous forecast of $6.75. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.92 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.82 EPS, FY2025 earnings at $7.58 EPS and FY2026 earnings at $8.36 EPS.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group increased their target price on Sun Life Financial from C$90.00 to C$94.00 in a research note on Thursday, November 14th. CIBC increased their price objective on Sun Life Financial from C$90.00 to C$96.00 in a research report on Wednesday, November 13th. Barclays boosted their target price on shares of Sun Life Financial from C$82.00 to C$87.00 in a research report on Monday, January 6th. TD Securities upped their price target on shares of Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Finally, Cormark raised their price objective on shares of Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$86.64.

Sun Life Financial Price Performance

Shares of TSE:SLF opened at C$84.98 on Thursday. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The company has a 50-day moving average price of C$85.05 and a 200 day moving average price of C$77.15. Sun Life Financial has a 52 week low of C$64.38 and a 52 week high of C$88.54. The company has a market cap of C$48.99 billion, a P/E ratio of 16.09, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s dividend payout ratio is 61.36%.

Insider Buying and Selling at Sun Life Financial

In other news, Senior Officer Linda Dougherty purchased 5,800 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of C$84.83 per share, with a total value of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of Sun Life Financial stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.