Desjardins Has Optimistic Outlook of TSE:SLF FY2024 Earnings

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Analysts at Desjardins raised their FY2024 earnings per share estimates for Sun Life Financial in a research report issued on Tuesday, November 5th. Desjardins analyst D. Young now expects that the financial services provider will earn $6.75 per share for the year, up from their prior forecast of $6.68. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.92 per share. Desjardins also issued estimates for Sun Life Financial’s Q4 2024 earnings at $1.78 EPS.

Several other brokerages have also recently commented on SLF. Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday. Jefferies Financial Group increased 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. Cormark boosted their price objective on Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday. Barclays raised their target price on shares of Sun Life Financial from C$76.00 to C$79.00 in a report on Tuesday. Finally, Scotiabank boosted 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 report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy” and an average price target of C$81.36.

Sun Life Financial Stock Down 0.2 %

Shares of SLF opened at C$82.46 on Thursday. 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 stock has a market capitalization of C$47.54 billion, a PE ratio of 15.62, a P/E/G ratio of 1.33 and a beta of 0.94. The company’s 50-day simple moving average is C$77.46 and its 200-day simple moving average is C$71.84. Sun Life Financial has a 1 year low of C$64.38 and a 1 year high of C$82.86.

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

Insiders Place Their Bets

In other news, Senior Officer Linda Dougherty sold 2,000 shares of the firm’s stock in a transaction that occurred 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, Director Stephanie Coyles acquired 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, with a total value of C$35,000.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at 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 corporate insiders.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s dividend payout ratio (DPR) is currently 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.