Cormark Brokers Boost Earnings Estimates for Sun Life Financial Inc. (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Analysts at Cormark increased their Q1 2024 EPS estimates for Sun Life Financial in a note issued to investors on Thursday, April 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings per share of $1.63 for the quarter, up from their prior estimate of $1.61. The consensus estimate for Sun Life Financial’s current full-year earnings is $6.90 per share.

SLF has been the topic of a number of other reports. Scotiabank lifted their target price on Sun Life Financial from C$75.00 to C$76.00 in a report on Tuesday, February 6th. National Bankshares lifted their price target on Sun Life Financial from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a report on Tuesday, January 23rd. BMO Capital Markets lifted their price target on Sun Life Financial from C$70.00 to C$80.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Evercore boosted their target price on Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Tuesday, January 23rd. Finally, CIBC upped their price target on Sun Life Financial from C$75.00 to C$77.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$76.82.

Sun Life Financial Stock Performance

SLF stock opened at C$70.14 on Friday. Sun Life Financial has a 1 year low of C$61.84 and a 1 year high of C$74.94. The stock’s fifty day moving average is C$72.64 and its two-hundred day moving average is C$69.57. The company has a debt-to-equity ratio of 78.47, a quick ratio of 84,866.00 and a current ratio of 6.81. The stock has a market capitalization of C$40.85 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 0.96.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported C$1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.59 by C$0.09. The firm had revenue of C$18.68 billion for the quarter. Sun Life Financial had a return on equity of 13.98% and a net margin of 10.26%.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio is currently 59.32%.

Insider Transactions at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$74.45, for a total value of C$1,191,120.00. Company insiders own 0.03% of the company’s stock.

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.