Research Analysts Issue Forecasts for Sun Life Financial Inc.’s Q3 2024 Earnings (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities researchers at Desjardins raised their Q3 2024 EPS estimates for Sun Life Financial in a report released on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings of $1.71 per share for the quarter, up from their prior estimate of $1.70. The consensus estimate for Sun Life Financial’s current full-year earnings is $7.33 per share. Desjardins also issued estimates for Sun Life Financial’s FY2024 earnings at $6.68 EPS and FY2026 earnings at $7.95 EPS.

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

A number of other brokerages have also weighed in on SLF. Evercore lowered their price target on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. National Bankshares boosted 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 Tuesday, August 13th. Barclays set a C$76.00 price target on shares of Sun Life Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Jefferies Financial Group boosted their price target on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, TD Securities decreased their price target on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$76.09.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at C$78.70 on Friday. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. The firm has a market cap of C$45.42 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.25 and a beta of 0.93. The firm has a 50 day simple moving average of C$73.15 and a 200 day simple moving average of C$70.75. Sun Life Financial has a fifty-two week low of C$61.84 and a fifty-two week high of C$79.45.

Insider Activity

In other news, Director Stephanie Coyles bought 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the acquisition, the director now owns 500 shares in the company, valued at C$35,000. In related news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s 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. Also, Director Stephanie Coyles purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of C$70.00 per share, for a total transaction of C$35,000.00. Following the purchase, the director now owns 500 shares in the company, valued at C$35,000. 0.03% of the stock is owned by insiders.

Sun Life Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.81 per share. The ex-dividend date was Wednesday, August 28th. This represents a $3.24 annualized dividend and a yield of 4.12%. Sun Life Financial’s dividend payout ratio (DPR) 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.