Sun Life Financial Inc. (TSE:SLF) to Post FY2024 Earnings of $6.61 Per Share, Cormark Forecasts

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities researchers at Cormark lowered their FY2024 earnings estimates for shares of Sun Life Financial in a report issued on Wednesday, July 24th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $6.61 per share for the year, down from their prior forecast of $6.71. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.35 per share. Cormark also issued estimates for Sun Life Financial’s FY2025 earnings at $7.26 EPS.

Other equities research analysts also recently issued reports about the stock. National Bankshares dropped their price objective on shares of Sun Life Financial from C$73.00 to C$72.00 in a research report on Friday, May 10th. CIBC increased their price objective on shares of Sun Life Financial from C$77.00 to C$80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. BMO Capital Markets dropped their price objective on shares of Sun Life Financial from C$80.00 to C$79.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada dropped their price objective on shares of Sun Life Financial from C$77.00 to C$76.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Sun Life Financial from C$83.00 to C$78.00 in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$75.73.

Sun Life Financial Trading Up 0.5 %

Shares of TSE:SLF opened at C$68.56 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’s 50 day moving average is C$67.78 and its two-hundred day moving average is C$70.12. The company has a current ratio of 56.69, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.46. The company has a market cap of C$39.84 billion, a PE ratio of 13.18, a P/E/G ratio of 1.25 and a beta of 0.96.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Thursday, May 9th. The financial services provider reported C$1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.64 by C($0.14). The business had revenue of C$6.88 billion for the quarter, compared to analyst estimates of C$9.96 billion. Sun Life Financial had a return on equity of 13.68% and a net margin of 10.12%.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Director Kevin Strain acquired 12,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of C$67.48 per share, for a total transaction of C$809,760.00. In other Sun Life Financial news, Director Kevin Strain acquired 12,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of C$67.48 per share, for a total transaction of C$809,760.00. Also, Director Stephanie Coyles acquired 900 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of C$69.15 per share, for a total transaction of C$62,235.00. 0.03% of the stock is currently owned by company insiders.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th were paid a $0.81 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.78. This represents a $3.24 dividend on an annualized basis and a yield of 4.73%. Sun Life Financial’s payout ratio is currently 62.31%.

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.