Q1 2024 EPS Estimates for Sun Life Financial Inc. (TSE:SLF) Raised by Cormark

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Analysts at Cormark increased their Q1 2024 earnings estimates for shares of Sun Life Financial in a research report issued to clients and investors on Thursday, April 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $1.63 per share for the quarter, up from their previous forecast of $1.61. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.90 per share.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$76.00 to C$77.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. BMO Capital Markets raised their price target on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. TD Securities raised their price target on shares of Sun Life Financial from C$73.00 to C$75.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Evercore 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 research note on Tuesday, January 23rd. Finally, Jefferies Financial Group increased 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 report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$76.91.

Sun Life Financial Trading Up 0.8 %

Shares of Sun Life Financial stock opened at C$70.67 on Friday. The firm has a market capitalization of C$41.16 billion, a PE ratio of 13.44, a P/E/G ratio of 1.25 and a beta of 0.96. Sun Life Financial has a twelve month low of C$61.84 and a twelve month high of C$74.94. The firm’s 50-day moving average price is C$72.60 and its 200 day moving average price is C$69.60. The company has a current ratio of 6.81, a quick ratio of 84,866.00 and a debt-to-equity ratio of 78.47.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.26% and a return on equity of 13.98%.

Insider Transactions at Sun Life Financial

In other news, Senior Officer Daniel Fishbein sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of C$74.45, for a total transaction of C$1,191,120.00. Insiders own 0.03% of the company’s stock.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.78 per share. The ex-dividend date was Tuesday, February 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.41%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.32%.

Sun Life Financial Company Profile

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.