Q3 EPS Forecast for Sun Life Financial Boosted by Analyst

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Research analysts at National Bank Financial boosted their Q3 2024 EPS estimates for shares of Sun Life Financial in a research note issued on Thursday, October 24th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $1.71 for the quarter, up from their prior estimate of $1.69. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.92 per share. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.75 EPS, FY2024 earnings at $6.66 EPS and FY2025 earnings at $7.39 EPS.

Several other brokerages also recently weighed in on SLF. Evercore cut their price objective on shares of Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. TD Securities cut their target price on Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group increased their price target on Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, National Bankshares lifted their price objective 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 note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial currently has an average rating of “Moderate Buy” and a consensus target price of C$76.82.

Sun Life Financial Stock Performance

SLF stock opened at C$79.09 on Monday. The stock’s fifty day moving average is C$76.31 and its two-hundred day moving average is C$71.30. The stock has a market capitalization of C$45.59 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. Sun Life Financial has a 1 year low of C$62.39 and a 1 year high of C$79.45.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. The company had revenue of C$8.92 billion during the quarter, compared to the consensus estimate of C$9.18 billion. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%.

Insider Activity

In related news, Director Stephanie Coyles purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at C$35,000. In related news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Director Stephanie Coyles acquired 500 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately C$35,000. Insiders own 0.03% of the company’s stock.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were issued a $0.81 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $3.24 annualized dividend and a dividend yield of 4.10%. Sun Life Financial’s dividend payout ratio is currently 61.36%.

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.