Sun Life Financial Inc. to Post FY2024 Earnings of $6.90 Per Share, Cormark Forecasts (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities researchers at Cormark dropped their FY2024 earnings per share (EPS) estimates for Sun Life Financial in a research report issued to clients and investors 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 previous forecast 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.

A number of other equities research analysts have also issued reports on SLF. Royal Bank of Canada lifted their target price 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. CIBC boosted their target price on Sun Life Financial from C$75.00 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 Sun Life Financial from C$70.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Jefferies Financial Group boosted their price target 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. Finally, TD Securities increased their price objective on Sun Life Financial from C$73.00 to C$75.00 and gave the stock a “hold” rating in a report 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$76.91.

Sun Life Financial Stock Performance

SLF stock opened at C$70.52 on Monday. The stock has a market cap of C$41.08 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.25 and a beta of 0.96. The company has a debt-to-equity ratio of 78.47, a quick ratio of 84,866.00 and a current ratio of 6.81. The firm has a 50 day simple moving average of C$72.55 and a 200 day simple moving average of C$69.66. Sun Life Financial has a 52 week low of C$61.84 and a 52 week high of C$74.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its 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 company 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%.

Insider Activity at Sun Life Financial

In other news, Senior Officer Daniel Fishbein sold 16,000 shares of the business’s stock in a transaction dated 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 corporate insiders.

Sun Life Financial Increases Dividend

The firm 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 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Tuesday, February 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s payout ratio 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.