Desjardins Brokers Cut Earnings Estimates for Sun Life Financial Inc. (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Desjardins lowered their Q4 2023 EPS estimates for Sun Life Financial in a note issued to investors on Tuesday, November 14th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $1.64 for the quarter, down from their prior forecast of $1.65. Desjardins currently has a “Buy” rating and a $75.00 target price on the stock. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.74 per share.

A number of other brokerages have also issued reports on SLF. BMO Capital Markets lifted their target price on Sun Life Financial from C$78.00 to C$79.00 in a research report on Thursday, August 10th. Credit Suisse Group cut their target price on Sun Life Financial from C$79.00 to C$77.00 in a research report on Thursday, August 10th. Cormark raised their price target on shares of Sun Life Financial from C$72.00 to C$73.00 in a research report on Tuesday. TD Securities upped their price target on shares of Sun Life Financial from C$67.00 to C$68.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada decreased their price objective on shares of Sun Life Financial from C$79.00 to C$76.00 and set an “outperform” rating for the company in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Hold” and an average price target of C$74.46.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at C$68.99 on Thursday. Sun Life Financial has a 12-month low of C$60.01 and a 12-month high of C$70.11. The company has a debt-to-equity ratio of 30.31, a current ratio of 51.74 and a quick ratio of 84,866.00. The company has a market capitalization of C$40.31 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.96. The firm’s fifty day moving average price is C$65.76 and its 200 day moving average price is C$66.57.

Sun Life Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 29th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Tuesday, November 28th. Sun Life Financial’s dividend payout ratio is presently 60.24%.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.