Brokers Set Expectations for Great-West Lifeco Inc.’s Q2 2024 Earnings (TSE:GWO)

Great-West Lifeco Inc. (TSE:GWO) – Equities researchers at National Bank Financial boosted their Q2 2024 earnings per share (EPS) estimates for Great-West Lifeco in a research report issued on Wednesday, May 1st. National Bank Financial analyst G. Dechaine now expects that the company will post earnings of $1.06 per share for the quarter, up from their previous forecast of $1.05. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.14 per share. National Bank Financial also issued estimates for Great-West Lifeco’s Q3 2024 earnings at $1.08 EPS, Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $4.30 EPS and FY2025 earnings at $4.53 EPS.

A number of other research analysts have also recently commented on GWO. National Bankshares increased their target price on Great-West Lifeco from C$42.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Thursday. Scotiabank increased their price objective on Great-West Lifeco from C$42.00 to C$44.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 6th. TD Securities decreased their price objective on Great-West Lifeco from C$45.00 to C$44.00 in a report on Thursday. Royal Bank of Canada upped their target price on Great-West Lifeco from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price target on shares of Great-West Lifeco from C$44.00 to C$46.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Great-West Lifeco has an average rating of “Hold” and a consensus price target of C$43.60.

Great-West Lifeco Price Performance

Shares of TSE:GWO opened at C$42.23 on Friday. Great-West Lifeco has a one year low of C$37.06 and a one year high of C$45.18. The company has a debt-to-equity ratio of 32.33, a current ratio of 12.42 and a quick ratio of 22.18. The firm has a market capitalization of C$39.38 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.26 and a beta of 0.86. The company’s fifty day moving average price is C$41.95 and its 200-day moving average price is C$42.23.

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

Great-West Lifeco Dividend Announcement

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

Insider Transactions at Great-West Lifeco

In other Great-West Lifeco news, Senior Officer Dervla Mary Tomlin sold 5,400 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$42.33, for a total value of C$228,590.10. In other Great-West Lifeco news, Senior Officer Dervla Mary Tomlin sold 5,400 shares of the 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 shares were sold at an average price of C$42.44, for a total value of C$123,062.08. Over the last 90 days, insiders have sold 13,300 shares of company stock worth $566,402. Insiders own 70.57% of the company’s stock.

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.