Sun Life Financial Inc. (TSE:SLF) Forecasted to Earn FY2024 Earnings of $6.90 Per Share

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Research analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for Sun Life Financial in a report released on Thursday, April 25th. Cormark analyst L. Persaud now forecasts that the financial services provider will post earnings per share of $6.90 for the year, down from their prior estimate of $6.97. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.90 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $7.37 EPS.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 earnings per share for the quarter, beating the consensus estimate of C$1.59 by C$0.09. The firm had revenue of C$18.68 billion for the quarter. Sun Life Financial had a return on equity of 13.98% and a net margin of 10.26%.

Other research analysts have also issued reports about the stock. BMO Capital Markets upped their target price on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. TD Securities boosted their target price on Sun Life Financial from C$73.00 to C$75.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. CIBC upped their target price on Sun Life Financial from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore lifted their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Sun Life Financial from C$82.00 to C$83.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$77.18.

Sun Life Financial Trading Down 0.3 %

Shares of Sun Life Financial stock opened at C$70.29 on Monday. The company has a 50 day simple moving average of C$72.49 and a two-hundred day simple moving average of C$69.69. The firm has a market cap of C$40.94 billion, a PE ratio of 13.36, a PEG ratio of 1.25 and a beta of 0.96. Sun Life Financial has a 1 year low of C$61.84 and a 1 year high of C$74.94. The company has a debt-to-equity ratio of 78.47, a current ratio of 6.81 and a quick ratio of 84,866.00.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 16,000 shares of Sun Life Financial stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$74.45, for a total value of C$1,191,120.00. 0.03% of the stock is owned by insiders.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s dividend payout ratio (DPR) is 59.32%.

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.