National Bank Financial Research Analysts Boost Earnings Estimates for Sun Life Financial Inc. (TSE:SLF)

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) – Equities research analysts at National Bank Financial boosted their FY2021 earnings per share (EPS) estimates for Sun Life Financial in a research note issued on Tuesday, January 11th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will earn $6.05 per share for the year, up from their previous estimate of $6.04. National Bank Financial has a “Outperform” rating and a $78.00 price target on the stock. National Bank Financial also issued estimates for Sun Life Financial’s Q4 2021 earnings at $1.58 EPS and FY2023 earnings at $7.13 EPS.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Wednesday, November 3rd. The financial services provider reported C$1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$1.49 by C$0.05. The firm had revenue of C$8.51 billion during the quarter.

A number of other analysts also recently issued reports on SLF. Cormark increased their target price on shares of Sun Life Financial from C$69.00 to C$73.00 and gave the stock a “buy” rating in a research report on Wednesday, October 27th. Veritas Investment Research downgraded shares of Sun Life Financial from a “buy” rating to a “reduce” rating in a research report on Friday, November 5th. increased their price objective on shares of Sun Life Financial from C$74.00 to C$75.00 in a research report on Monday, October 25th. Evercore ISI reaffirmed a “hold” rating and issued a C$27.00 price objective on shares of Sun Life Financial in a research report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Sun Life Financial from C$76.00 to C$79.00 in a research report on Friday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial currently has a consensus rating of “Buy” and an average price target of C$72.77.

SLF opened at C$72.18 on Thursday. The firm has a 50 day moving average price of C$70.01 and a 200 day moving average price of C$67.40. The company has a market cap of C$42.30 billion and a PE ratio of 11.79. Sun Life Financial has a 1 year low of C$58.72 and a 1 year high of C$72.37. The company has a debt-to-equity ratio of 20.01, a quick ratio of 1,053.41 and a current ratio of 1,108.38.

In related news, Senior Officer Colm Joseph Freyne sold 29,881 shares of Sun Life Financial stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of C$70.56, for a total transaction of C$2,108,322.68.

The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, November 24th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Tuesday, November 23rd. Sun Life Financial’s payout ratio is 35.94%.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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