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

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Stock analysts at Cormark lifted their Q1 2024 earnings per share (EPS) estimates for shares of Sun Life Financial in a research note issued to investors on Thursday, April 25th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings per share of $1.63 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.

A number of other analysts also recently issued reports on the stock. Scotiabank boosted their price objective on shares of Sun Life Financial from C$75.00 to C$76.00 in a report on Tuesday, February 6th. National Bankshares boosted their price objective on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Friday. Jefferies Financial Group upped their price objective on Sun Life Financial from C$82.00 to C$83.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Desjardins raised their target price on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, CIBC lifted their price target on Sun Life Financial from C$75.00 to C$77.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, 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 stock opened at C$70.67 on Friday. The company has a fifty day moving average price of C$72.60 and a two-hundred day moving average price of C$69.62. The stock 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 debt-to-equity ratio of 78.47, a current ratio of 6.81 and a quick ratio of 84,866.00. Sun Life Financial has a one year low of C$61.84 and a one year high of C$74.94.

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

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Tuesday, February 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s dividend payout ratio (DPR) is 59.32%.

Insiders Place Their Bets

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 16,000 shares of the business’s 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. Corporate insiders own 0.03% of the company’s stock.

About Sun Life Financial

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.