National Bank Financial Predicts TSE:SLF FY2024 Earnings

Sun Life Financial Inc. (TSE:SLF - Free Report) NYSE: SLF - Equities researchers at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for Sun Life Financial in a report released on Monday, November 4th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $6.75 per share for the year, up from their previous estimate of $6.66. 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 $1.80 EPS and FY2025 earnings at $7.52 EPS.

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

A number of other equities research analysts have also recently commented on SLF. Barclays increased their price objective on shares of Sun Life Financial from C$76.00 to C$79.00 in a research note on Tuesday. Scotiabank upped their price target on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Sun Life Financial from C$81.00 to C$89.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Evercore cut their price objective on Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Finally, Cormark increased their target price on shares of Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$81.36.

Sun Life Financial Stock Performance

TSE SLF traded up C$2.14 on Wednesday, hitting C$82.08. 3,175,447 shares of the company's stock were exchanged, compared to its average volume of 2,041,312. The firm's 50-day moving average price is C$77.10 and its two-hundred day moving average price is C$71.66. The firm has a market cap of C$47.32 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.33 and a beta of 0.94. 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. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$82.27.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the business'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. In other news, Senior Officer Linda Dougherty sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. Also, Director Stephanie Coyles acquired 500 shares of Sun Life Financial stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately C$35,000. Insiders own 0.03% of the company's stock.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be 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 4.09%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial's dividend payout ratio (DPR) is currently 61.36%.

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.