Cormark Forecasts Stronger Earnings for Sun Life Financial

Sun Life Financial Inc. (TSE:SLF - Free Report) NYSE: SLF - Equities research analysts at Cormark raised their FY2024 earnings per share estimates for Sun Life Financial in a research report issued on Tuesday, November 5th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $6.76 per share for the year, up from their prior forecast of $6.70. The consensus estimate for Sun Life Financial's current full-year earnings is $6.92 per share.

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

SLF has been the topic of several other reports. TD Securities increased their price target on Sun Life Financial from C$77.00 to C$81.00 in a report on Tuesday. National Bankshares increased their target price on 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. Scotiabank boosted their price target on Sun Life Financial from C$73.00 to C$85.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. CIBC increased their price objective on shares of Sun Life Financial from C$80.00 to C$90.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their target price on shares of Sun Life Financial from C$76.00 to C$79.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Sun Life Financial has a consensus rating of "Moderate Buy" and an average price target of C$81.36.

Sun Life Financial Stock Performance

Sun Life Financial stock traded up C$0.55 during midday trading on Thursday, reaching C$82.63. 1,479,197 shares of the company traded hands, compared to its average volume of 2,038,733. Sun Life Financial has a 12 month low of C$64.38 and a 12 month high of C$82.86. 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 business has a 50 day moving average of C$77.10 and a two-hundred day moving average of C$71.66. The firm has a market capitalization of C$47.64 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Insider Transactions at Sun Life Financial

In other news, Director Stephanie Coyles bought 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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. In other Sun Life Financial news, Director Stephanie Coyles purchased 500 shares of the stock in a transaction that occurred on 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 approximately C$35,000. Also, Senior Officer Linda Dougherty sold 2,000 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total transaction of C$150,590.00. Corporate insiders own 0.03% of the company's stock.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a $0.84 dividend. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.81. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial's dividend payout ratio 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.