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

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Cormark dropped their FY2024 earnings estimates for Sun Life Financial in a research note issued to investors on Thursday, April 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings of $6.90 per share for the year, down from their prior 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.

A number of other brokerages have also recently issued reports on SLF. BMO Capital Markets lifted their target price on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. TD Securities boosted their price objective on shares of Sun Life Financial from C$73.00 to C$75.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Scotiabank boosted their price objective on shares of Sun Life Financial from C$75.00 to C$76.00 in a research report on Tuesday, February 6th. Jefferies Financial Group boosted their price objective on shares of Sun Life Financial from C$82.00 to C$83.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, CIBC boosted their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$76.91.

Sun Life Financial Stock Performance

Shares of SLF opened at C$70.67 on Monday. The company has a current ratio of 6.81, a quick ratio of 84,866.00 and a debt-to-equity ratio of 78.47. The stock has a market cap of C$41.16 billion, a P/E ratio of 13.44, a PEG ratio of 1.25 and a beta of 0.96. The company has a 50-day moving average of C$72.60 and a two-hundred day moving average of C$69.64. Sun Life Financial has a 12-month low of C$61.84 and a 12-month high of C$74.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.59 by C$0.09. The company had revenue of C$18.68 billion during the quarter. Sun Life Financial had a net margin of 10.26% and a return on equity of 13.98%.

Insider Activity at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 owned by insiders.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.41%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, February 27th. Sun Life Financial’s payout ratio is presently 59.32%.

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.