Q1 2024 EPS Estimates for Sun Life Financial Inc. (TSE:SLF) Raised by Cormark

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Stock analysts at Cormark increased their Q1 2024 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 $1.63 per share for the quarter, up from their prior estimate of $1.61. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.90 per share.

Several other brokerages also recently issued reports on SLF. National Bankshares upped their price target on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a report on Friday. Jefferies Financial Group upped their price target on shares of Sun Life Financial from C$82.00 to C$83.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Desjardins upped their price target on shares of 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. TD Securities upped their price target on shares of Sun Life Financial from C$73.00 to C$75.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, CIBC upped their price target on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$76.91.

Sun Life Financial Stock Up 0.8 %

SLF stock opened at C$70.67 on Friday. Sun Life Financial has a 52 week low of C$61.84 and a 52 week high of C$74.94. The company has a market cap of C$41.16 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.25 and a beta of 0.96. 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 company’s 50-day moving average price is C$72.60 and its 200 day moving average price is C$69.60.

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

Insider Buying and Selling

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

Sun Life Financial Increases Dividend

The business also recently declared 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 is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $3.12 annualized dividend and a yield of 4.41%. Sun Life Financial’s dividend payout ratio is 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.