FY2024 EPS Estimates for Sun Life Financial Inc. (TSE:SLF) Cut by Analyst

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities research analysts at Cormark cut their FY2024 EPS 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 expects that the financial services provider will post earnings of $6.90 per share for the year, down from their previous 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.

Other equities analysts have also issued reports about the company. CIBC upped their target price on Sun Life Financial from C$77.00 to C$80.00 and gave the company an “outperform” rating in a research note on Tuesday. National Bankshares increased their target price on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Desjardins upped their price objective on Sun Life Financial from C$75.00 to C$77.00 and gave the company a “buy” rating in a report on Friday, February 9th. Evercore increased their target price 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, Scotiabank lifted their price target on shares of Sun Life Financial from C$75.00 to C$76.00 in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.18.

Sun Life Financial Trading Down 0.3 %

Shares of SLF opened at C$70.29 on Monday. Sun Life Financial has a fifty-two week low of C$61.84 and a fifty-two week high of C$74.94. The stock has a fifty day moving average of C$72.49 and a two-hundred day moving average of C$69.69. 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 company has a market capitalization of C$40.94 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data 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. Sun Life Financial had a net margin of 10.26% and a return on equity of 13.98%. The business had revenue of C$18.68 billion during the quarter.

Insider Transactions at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the stock in a transaction dated 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 currently owned by insiders.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a $0.78 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.44%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s dividend payout ratio is presently 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.