FY2024 Earnings Forecast for Great-West Lifeco Inc. Issued By Desjardins (TSE:GWO)

Great-West Lifeco Inc. (TSE:GWO) – Desjardins lifted their FY2024 earnings per share estimates for Great-West Lifeco in a report released on Thursday, May 2nd. Desjardins analyst D. Young now expects that the company will post earnings of $4.28 per share for the year, up from their previous estimate of $4.18. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.14 per share.

A number of other research analysts have also weighed in on the stock. TD Securities decreased their target price on shares of Great-West Lifeco from C$45.00 to C$44.00 in a research note on Thursday. CIBC raised their target price on Great-West Lifeco from C$44.00 to C$46.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their price target on shares of Great-West Lifeco from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Great-West Lifeco from C$44.00 to C$46.00 in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on shares of Great-West Lifeco from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$44.00.

Great-West Lifeco Stock Performance

GWO opened at C$42.23 on Monday. Great-West Lifeco has a twelve month low of C$37.06 and a twelve month high of C$45.18. The firm has a market capitalization of C$39.38 billion, a PE ratio of 14.41, a PEG ratio of 2.26 and a beta of 0.86. The company has a current ratio of 12.42, a quick ratio of 22.18 and a debt-to-equity ratio of 32.33. The firm’s 50-day moving average price is C$41.95 and its 200 day moving average price is C$42.27.

Great-West Lifeco (TSE:GWO) last announced its earnings results on Wednesday, February 14th. The company reported C$1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.99 by C$0.05. The company had revenue of C$20.21 billion for the quarter. Great-West Lifeco had a net margin of 7.95% and a return on equity of 10.28%.

Great-West Lifeco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Friday, May 31st. Great-West Lifeco’s dividend payout ratio (DPR) is 75.77%.

Insider Transactions at Great-West Lifeco

In other news, Senior Officer Linda Kerrigan sold 5,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$42.95, for a total transaction of C$214,750.00. In other news, Senior Officer Linda Kerrigan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$42.95, for a total value of C$214,750.00. Also, Senior Officer Dervla Mary Tomlin sold 5,400 shares of Great-West Lifeco stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$42.33, for a total transaction of C$228,590.10. In the last three months, insiders have sold 13,300 shares of company stock worth $566,402. 70.57% of the stock is currently owned by insiders.

Great-West Lifeco Company Profile

Great-West Lifeco Inc engages in the life and health insurance, retirement and investment services, asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, disability, critical illness, health and dental protection, and creditor insurance products; and retirement and wealth savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations.