National Bank Financial Estimates TSE:SLF FY2024 Earnings

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – National Bank Financial boosted their FY2024 earnings estimates for shares of Sun Life Financial in a report released on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings per share of $6.77 for the year, up from their prior estimate of $6.75. 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 $1.82 EPS, FY2025 earnings at $7.58 EPS and FY2026 earnings at $8.36 EPS.

A number of other equities research analysts have also commented on SLF. National Bankshares upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$82.00 to C$95.00 in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. Barclays upped their price objective on shares of Sun Life Financial from C$82.00 to C$87.00 in a research note on Monday, January 6th. Scotiabank lifted their target price on shares of Sun Life Financial from C$85.00 to C$96.00 in a research note on Thursday, November 14th. Finally, Cormark boosted their price target on shares of Sun Life Financial from C$82.00 to C$85.00 in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$86.64.

Sun Life Financial Stock Performance

Shares of SLF stock opened at C$84.41 on Thursday. The company has a market capitalization of C$48.66 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$88.54. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77. The stock’s fifty day simple moving average is C$84.96 and its 200-day simple moving average is C$77.03.

Insiders Place Their Bets

In other Sun Life Financial news, Director Kevin Strain sold 85,943 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Also, Senior Officer Linda Dougherty acquired 5,800 shares of Sun Life Financial stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of C$84.83 per share, with a total value of C$492,014.00. Insiders own 0.03% of the company’s stock.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.84 per share. 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 3.98%. The ex-dividend date was Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

About Sun Life Financial

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.