Desjardins Has Positive Outlook for TSE:GWO FY2024 Earnings

Great-West Lifeco Inc. (TSE:GWO) – Equities research analysts at Desjardins increased their FY2024 earnings per share (EPS) estimates for Great-West Lifeco in a research report issued to clients and investors on Thursday, November 7th. Desjardins analyst D. Young now forecasts that the company will earn $4.47 per share for the year, up from their prior forecast of $4.42. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.45 per share. Desjardins also issued estimates for Great-West Lifeco’s Q4 2024 earnings at $1.14 EPS.

Several other brokerages have also weighed in on GWO. Barclays increased their price objective on Great-West Lifeco from C$43.00 to C$45.00 in a research report on Friday, November 8th. Scotiabank increased their price target on Great-West Lifeco from C$44.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. CIBC boosted their price objective on shares of Great-West Lifeco from C$51.00 to C$55.00 in a report on Friday, November 8th. Jefferies Financial Group upped their target price on shares of Great-West Lifeco from C$42.00 to C$48.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, TD Securities lifted their price target on shares of Great-West Lifeco from C$43.00 to C$44.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Great-West Lifeco currently has an average rating of “Hold” and a consensus price target of C$47.63.

Great-West Lifeco Stock Performance

Great-West Lifeco stock opened at C$48.92 on Monday. The firm has a 50 day simple moving average of C$46.29 and a 200-day simple moving average of C$43.02. The stock has a market cap of C$45.60 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The company has a debt-to-equity ratio of 29.61, a current ratio of 37.46 and a quick ratio of 22.18. Great-West Lifeco has a 1-year low of C$38.44 and a 1-year high of C$49.64.

Great-West Lifeco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 4.54%. The ex-dividend date is Tuesday, December 3rd. Great-West Lifeco’s payout ratio is 55.78%.

Insider Activity at Great-West Lifeco

In other Great-West Lifeco news, Director Charles Donald Harvey Henaire sold 25,400 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$44.72, for a total transaction of C$1,135,888.00. In related news, Director Richard Henry Linton sold 35,800 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$46.27, for a total transaction of C$1,656,344.28. Also, Director Charles Donald Harvey Henaire sold 25,400 shares of Great-West Lifeco stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$44.72, for a total value of C$1,135,888.00. 70.70% of the stock is currently owned by corporate insiders.

About Great-West Lifeco

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.