National Bank Financial Forecasts TSE:SLF FY2024 Earnings

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Stock analysts at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Sun Life Financial in a research report issued to clients and investors on Monday, November 4th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $6.75 for the year, up from their previous estimate of $6.66. 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 $1.80 EPS and FY2025 earnings at $7.52 EPS.

Several other equities research analysts have also commented on SLF. Barclays lifted their price target on shares of Sun Life Financial from C$76.00 to C$79.00 in a research note on Tuesday. Cormark lifted their price objective on shares of Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday. Jefferies Financial Group increased their target price 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. Scotiabank raised their price objective on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Evercore decreased their target price on Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of C$81.36.

Sun Life Financial Price Performance

SLF stock opened at C$82.63 on Wednesday. The stock has a market cap of C$47.64 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.33 and a beta of 0.94. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$82.86. The business has a 50 day moving average price of C$77.10 and a 200 day moving average price of C$71.66.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data 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. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The company had revenue of C$8.92 billion for the quarter, compared to the consensus estimate of C$9.18 billion.

Insider Buying and Selling

In other news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Senior Officer Linda Dougherty sold 2,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Corporate insiders own 0.03% of the company’s stock.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.84 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 61.36%.

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.