Great-West Lifeco Inc. (TSE:GWO) to Post Q3 2024 Earnings of $1.09 Per Share, Desjardins Forecasts

by · The Cerbat Gem

Great-West Lifeco Inc. (TSE:GWO – Free Report) – Desjardins upped their Q3 2024 earnings per share (EPS) estimates for shares of Great-West Lifeco in a research report issued to clients and investors on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the company will post earnings of $1.09 per share for the quarter, up from their previous forecast of $1.07. 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 FY2024 earnings at $4.42 EPS and FY2026 earnings at $4.85 EPS.

Great-West Lifeco (TSE:GWO – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$1.11 EPS for the quarter, topping the consensus estimate of C$1.05 by C$0.06. The firm had revenue of C$8.61 billion for the quarter, compared to analyst estimates of C$9.83 billion. Great-West Lifeco had a return on equity of 13.21% and a net margin of 11.32%.

A number of other equities analysts have also issued reports on GWO. Royal Bank of Canada upped their target price on Great-West Lifeco from C$45.00 to C$47.00 in a research report on Thursday, August 8th. TD Securities upped their target price on 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. Jefferies Financial Group cut their target price on Great-West Lifeco from C$46.00 to C$42.00 in a research report on Thursday, July 18th. Finally, Barclays set a C$43.00 price target on Great-West Lifeco and gave the company an “underweight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$43.78.

Get Our Latest Stock Report on Great-West Lifeco

Great-West Lifeco Stock Performance

Great-West Lifeco stock opened at C$46.25 on Friday. The stock’s 50 day moving average price is C$44.05 and its 200 day moving average price is C$42.15. The firm has a market capitalization of C$43.11 billion, a PE ratio of 11.62, 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 quick ratio of 22.18 and a current ratio of 37.46. Great-West Lifeco has a one year low of C$37.06 and a one year high of C$46.55.

Insider Transactions at Great-West Lifeco

In other news, Director Richard Henry Linton sold 35,800 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$46.27, for a total value of C$1,656,344.28. In other news, Director Richard Henry Linton sold 35,800 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$46.27, for a total value of C$1,656,344.28. Also, Director Charles Donald Harvey Henaire sold 25,400 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$44.72, for a total value of C$1,135,888.00. Company insiders own 70.70% of the company’s stock.

Great-West Lifeco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.22 dividend on an annualized basis and a yield of 4.80%. Great-West Lifeco’s payout ratio is currently 55.78%.

About Great-West Lifeco

(Get Free Report)

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.

Read More