Sun Life Financial Inc. Forecasted to Post Q3 2024 Earnings of $1.71 Per Share (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF - Free Report) NYSE: SLF - Analysts at Desjardins raised their Q3 2024 earnings estimates for Sun Life Financial in a research report issued on Wednesday, October 9th. Desjardins analyst D. Young now expects that the financial services provider will post earnings per share of $1.71 for the quarter, up from their prior forecast of $1.70. The consensus estimate for Sun Life Financial's current full-year earnings is $7.33 per share. Desjardins also issued estimates for Sun Life Financial's FY2024 earnings at $6.68 EPS and FY2026 earnings at $7.95 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, 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 company had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion.

SLF has been the topic of a number of other research reports. National Bankshares lifted their price target 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 Tuesday, August 13th. Royal Bank of Canada boosted their target price on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Evercore dropped their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. Jefferies Financial Group boosted their target price on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, Barclays set a C$76.00 target price on shares of Sun Life Financial and gave the stock an "equal weight" rating in a research report on Thursday, September 5th. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$76.09.

Sun Life Financial Stock Performance

Shares of TSE:SLF traded up C$0.06 during trading on Friday, reaching C$78.76. The stock had a trading volume of 932,705 shares, compared to its average volume of 2,065,439. Sun Life Financial has a 52 week low of C$61.84 and a 52 week high of C$79.45. The firm has a market capitalization of C$45.46 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.25 and a beta of 0.93. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The stock has a fifty day simple moving average of C$73.35 and a two-hundred day simple moving average of C$70.78.

Sun Life Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a $0.81 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $3.24 annualized dividend and a dividend yield of 4.11%. Sun Life Financial's dividend payout ratio is presently 61.36%.

Insider Activity

In other news, Director Stephanie Coyles bought 500 shares of Sun Life Financial stock in a transaction dated 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 of the company's stock, valued at approximately C$35,000. In related news, Senior Officer Daniel Fishbein sold 15,999 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. Also, Director Stephanie Coyles acquired 500 shares of the company's stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is owned by corporate insiders.

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.