What is Cormark’s Estimate for TSE:SLF FY2024 Earnings?

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Investment analysts at Cormark lifted their FY2024 earnings estimates for shares of Sun Life Financial in a research note issued on Tuesday, February 4th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $6.78 per share for the year, up from their previous estimate of $6.76. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.92 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $7.57 EPS and FY2026 earnings at $8.21 EPS.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Monday, November 4th. The financial services provider reported C$1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.71 by C$0.05. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. During the same quarter in the previous year, the firm posted $1.59 EPS.

SLF has been the topic of a number of other reports. Scotiabank raised their price target on shares of Sun Life Financial from C$85.00 to C$96.00 in a report on Thursday, November 14th. CIBC lifted their price target on shares of Sun Life Financial from C$96.00 to C$97.00 in a report on Thursday, January 30th. National Bankshares upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$82.00 to C$95.00 in a report on Wednesday, January 15th. TD Securities upped their target price on Sun Life Financial from C$81.00 to C$87.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Barclays raised their price target on Sun Life Financial from C$82.00 to C$87.00 in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$86.73.

Sun Life Financial Trading Up 0.1 %

Shares of TSE SLF opened at C$82.81 on Wednesday. The business has a fifty day moving average price of C$85.01 and a 200 day moving average price of C$78.80. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$88.54. 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. The stock has a market capitalization of C$47.74 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Insider Buying and Selling

In other news, Senior Officer Linda Dougherty acquired 5,800 shares of the business’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of C$84.83 per share, with a total value of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of C$84.71, for a total value of C$7,280,231.53. 0.03% of the stock is currently owned by corporate insiders.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were issued a $0.84 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is 61.36%.

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.