What is Cormark's Forecast for TSE:SLF FY2024 Earnings?

Sun Life Financial Inc. (TSE:SLF - Free Report) NYSE: SLF - Research analysts at Cormark upped their FY2024 earnings per share estimates for shares of Sun Life Financial in a research note issued on Tuesday, February 4th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $6.78 per share for the year, up from their previous estimate of $6.76. The consensus estimate for Sun Life Financial's current full-year earnings is $6.92 per share. Cormark also issued estimates for Sun Life Financial's FY2025 earnings at $7.57 EPS and FY2026 earnings at $8.21 EPS.

A number of other equities analysts also recently weighed in on SLF. Royal Bank of Canada boosted their target price on shares of Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. National Bankshares raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from C$82.00 to C$95.00 in a research report on Wednesday, January 15th. National Bank Financial raised shares of Sun Life Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. TD Securities upped their price objective on shares of Sun Life Financial from C$81.00 to C$87.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. Finally, Barclays upped their price objective on shares of Sun Life Financial from C$82.00 to C$87.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$86.73.

Sun Life Financial Stock Up 0.5 %

SLF traded up C$0.40 during trading on Wednesday, reaching C$84.58. 2,310,214 shares of the stock were exchanged, compared to its average volume of 1,563,903. The stock has a market cap of C$48.76 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. Sun Life Financial has a twelve month low of C$64.38 and a twelve month high of C$88.54. The stock's 50 day moving average price is C$84.88 and its two-hundred day moving average price is C$79.11. 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.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were paid a $0.84 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $3.36 annualized dividend and a dividend yield of 3.97%. This is an increase from Sun Life Financial's previous quarterly dividend of $0.81. Sun Life Financial's dividend payout ratio is currently 61.36%.

Insider Activity

In other Sun Life Financial news, Director Kevin Strain sold 85,943 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Also, Senior Officer Linda Dougherty bought 5,800 shares of the firm's stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of C$84.83 per share, with a total value of C$492,014.00. 0.03% of the stock is currently owned by insiders.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada's Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.