Q3 2024 EPS Estimates for Sun Life Financial Inc. Raised by Desjardins (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Analysts at Desjardins lifted their Q3 2024 earnings per share estimates for shares of Sun Life Financial in a note issued to investors on Wednesday, October 9th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $1.71 per share for the quarter, up from their previous estimate of $1.70. The consensus estimate for Sun Life Financial’s current full-year earnings is $7.33 per share. Desjardins also issued estimates for Sun Life Financial’s FY2024 earnings at $6.68 EPS and FY2026 earnings at $7.95 EPS.

Other equities analysts have also issued research reports about the stock. Evercore decreased their price target on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Barclays set a C$76.00 price target on Sun Life Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Jefferies Financial Group raised their price objective on Sun Life Financial from C$78.00 to C$81.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Securities decreased their target price on Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Finally, Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$76.09.

Sun Life Financial Price Performance

SLF opened at C$78.76 on Friday. Sun Life Financial has a 1 year low of C$61.84 and a 1 year high of C$79.45. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The company’s 50 day simple moving average is C$73.35 and its 200 day simple moving average is C$70.78. The stock has a market capitalization of C$45.46 billion, a PE ratio of 14.91, a P/E/G ratio of 1.25 and a beta of 0.93.

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

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a $0.81 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $3.24 annualized dividend and a dividend yield of 4.11%. Sun Life Financial’s dividend payout ratio (DPR) is presently 61.36%.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, Director Stephanie Coyles bought 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at C$35,000. In other Sun Life Financial news, Director Stephanie Coyles bought 500 shares of Sun Life Financial stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the purchase, the director now owns 500 shares in the company, valued at C$35,000. Also, Senior Officer Linda Dougherty sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. Company insiders own 0.03% of the company’s stock.

About Sun Life Financial

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.