National Bank Financial Comments on Sun Life Financial Inc.’s Q1 2024 Earnings (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Research analysts at National Bank Financial lifted their Q1 2024 earnings estimates for Sun Life Financial in a research report issued on Thursday, April 25th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings of $1.64 per share for the quarter, up from their prior forecast of $1.61. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.90 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q2 2024 earnings at $1.66 EPS, Q3 2024 earnings at $1.76 EPS, Q4 2024 earnings at $1.75 EPS, FY2024 earnings at $6.82 EPS and FY2025 earnings at $7.39 EPS.

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, topping the consensus estimate of C$1.59 by C$0.09. The company 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%.

A number of other equities analysts have also weighed in on SLF. Jefferies Financial Group lifted their price objective on 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. CIBC lifted their price target on Sun Life Financial from C$75.00 to C$77.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Desjardins upped their price objective on Sun Life Financial from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their price objective on shares of Sun Life Financial from C$76.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, TD Securities boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.91.

Sun Life Financial Trading Down 0.2 %

TSE SLF opened at C$70.52 on Monday. 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. The company has a market capitalization of C$41.08 billion, a PE ratio of 13.41, a P/E/G ratio of 1.25 and a beta of 0.96. The company has a fifty day moving average of C$72.55 and a 200 day moving average of C$69.66.

Insider Buying and Selling

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 16,000 shares of the stock in a transaction 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. 0.03% of the stock is owned by insiders.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.42%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s dividend payout ratio (DPR) is currently 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.