Equities Analysts Set Expectations for TSE:SLF Q3 Earnings

Sun Life Financial Inc. (TSE:SLF - Free Report) NYSE: SLF - Stock analysts at National Bank Financial raised their Q3 2024 earnings per share estimates for Sun Life Financial in a research report issued to clients and investors on Thursday, October 24th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $1.71 for the quarter, up from their previous estimate of $1.69. 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 $1.75 EPS, FY2024 earnings at $6.66 EPS and FY2025 earnings at $7.39 EPS.

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

A number of other research firms also recently issued reports on SLF. TD Securities decreased their price target on shares of Sun Life Financial from C$73.00 to C$72.00 and set a "hold" rating on the stock in a research note on Tuesday, August 13th. Evercore lowered their price target on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on Sun Life Financial from C$81.00 to C$89.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Sun Life Financial from C$76.00 to C$78.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. Finally, National Bankshares boosted 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 research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of "Moderate Buy" and an average price target of C$76.82.

Sun Life Financial Price Performance

Shares of SLF traded up C$0.76 during mid-day trading on Monday, hitting C$79.16. 2,599,839 shares of the stock were exchanged, compared to its average volume of 2,022,359. The firm has a 50-day moving average of C$75.96 and a two-hundred day moving average of C$71.21. Sun Life Financial has a 52-week low of C$62.39 and a 52-week high of C$79.45. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The company has a market cap of C$45.63 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Insider Buying and Selling

In related news, Senior Officer Linda Dougherty sold 2,000 shares of the business's 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 value of C$150,590.00. In other Sun Life Financial news, Director Stephanie Coyles bought 500 shares of the company's stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the acquisition, the director now directly 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 dated Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total transaction of C$150,590.00. 0.03% of the stock is currently owned by insiders.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial's payout ratio is presently 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.