FY2024 EPS Estimates for Great-West Lifeco Inc. Raised by Desjardins (TSE:GWO)

Great-West Lifeco Inc. (TSE:GWO) – Investment analysts at Desjardins boosted their FY2024 earnings per share estimates for shares of Great-West Lifeco in a report released on Tuesday, April 9th. Desjardins analyst D. Young now expects that the company will post earnings per share of $4.18 for the year, up from their prior estimate of $4.14. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.14 per share. Desjardins also issued estimates for Great-West Lifeco’s FY2025 earnings at $4.50 EPS.

Several other brokerages have also commented on GWO. CIBC lifted their price objective on Great-West Lifeco from C$44.00 to C$46.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. BMO Capital Markets lifted their price objective on Great-West Lifeco from C$42.00 to C$44.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. TD Securities lifted their target price on Great-West Lifeco from C$44.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday. National Bankshares boosted their price target on Great-West Lifeco from C$40.00 to C$42.00 and gave the company a “sector perform” rating in a report on Tuesday, January 23rd. Finally, Scotiabank boosted their price target on Great-West Lifeco from C$42.00 to C$44.00 and gave the company a “sector perform” rating in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$43.11.

Great-West Lifeco Stock Down 0.3 %

Great-West Lifeco stock opened at C$40.36 on Friday. The company has a current ratio of 12.42, a quick ratio of 22.18 and a debt-to-equity ratio of 32.33. Great-West Lifeco has a 12 month low of C$37.05 and a 12 month high of C$45.18. The firm has a market cap of C$37.63 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.26 and a beta of 0.86. The stock has a fifty day simple moving average of C$42.60 and a two-hundred day simple moving average of C$42.03.

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

Insider Buying and Selling

In related news, Senior Officer Bradley John Fedorchuk sold 2,900 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of C$42.44, for a total value of C$123,062.08. In other Great-West Lifeco news, Senior Officer Dervla Mary Tomlin sold 5,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$42.33, for a total value of C$228,590.10. Also, Senior Officer Bradley John Fedorchuk sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$42.44, for a total value of C$123,062.08. In the last ninety days, insiders sold 13,300 shares of company stock valued at $566,402. 70.57% of the stock is owned by corporate insiders.

Great-West Lifeco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 5.50%. This is a positive change from Great-West Lifeco’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, February 28th. Great-West Lifeco’s dividend payout ratio is currently 75.77%.

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.