Analysts Offer Predictions for TSE:SLF FY2024 Earnings

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities research analysts at National Bank Financial boosted their FY2024 EPS estimates for Sun Life Financial in a note issued to investors on Monday, November 4th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $6.75 per share for the year, up from their prior estimate of $6.66. 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 $1.80 EPS and FY2025 earnings at $7.52 EPS.

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

SLF has been the topic of a number of other reports. CIBC raised their price objective on Sun Life Financial from C$80.00 to C$90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore cut their price target on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on shares of Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday. National Bankshares raised their target price on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group upped their price target on shares of Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$81.36.

Sun Life Financial Trading Up 2.7 %

Shares of SLF opened at C$82.08 on Wednesday. Sun Life Financial has a twelve month low of C$64.38 and a twelve month high of C$82.27. The firm has a market capitalization of C$47.32 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77. The stock’s fifty day simple moving average is C$77.10 and its 200 day simple moving average is C$71.66.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. This is a boost 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 4.09%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 61.36%.

Insider Activity

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