TSE:SLF Q3 EPS Estimate Lifted by National Bank Financial

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Analysts at National Bank Financial upped their Q3 2024 earnings per share estimates for shares of Sun Life Financial in a research report issued on Thursday, October 24th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $1.71 per share for the quarter, up from their prior forecast 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) (NYSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$8.92 billion during the quarter, compared to analyst estimates of C$9.18 billion.

SLF has been the topic of several other research reports. Jefferies Financial Group raised their price target on Sun Life Financial from C$81.00 to C$89.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. National Bankshares raised their target price 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 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 research report on Thursday, July 11th. Barclays set a C$76.00 price objective on shares of Sun Life Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, TD Securities lowered their target price on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$76.82.

Sun Life Financial Stock Performance

SLF stock opened at C$78.40 on Monday. The company has a 50 day moving average price of C$75.96 and a 200 day moving average price of C$71.21. Sun Life Financial has a fifty-two week low of C$61.84 and a fifty-two week high of C$79.45. 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. The stock has a market capitalization of C$45.20 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Insiders Place Their Bets

In related news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial 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, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Corporate insiders own 0.03% of the company’s stock.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 4.13%. 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.