Great-West Lifeco Inc. (TSE:GWO) Forecasted to Earn Q2 2024 Earnings of $1.06 Per Share

Great-West Lifeco Inc. (TSE:GWO) – Equities researchers at National Bank Financial lifted their Q2 2024 earnings estimates for Great-West Lifeco in a research note issued to investors 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 prior estimate 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.

GWO has been the topic of a number of other reports. BMO Capital Markets boosted their target price on Great-West Lifeco from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group increased their price objective on shares of Great-West Lifeco from C$44.00 to C$46.00 in a research report on Friday. Scotiabank raised their target price on shares of Great-West Lifeco from C$42.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 6th. TD Securities decreased their price target on shares of Great-West Lifeco from C$45.00 to C$44.00 in a research note on Thursday. Finally, National Bankshares raised their price objective on shares of Great-West Lifeco from C$42.00 to C$43.00 and gave the stock a “sector perform” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$43.60.

Great-West Lifeco Price Performance

TSE:GWO opened at C$42.23 on Friday. Great-West Lifeco has a 12-month low of C$37.06 and a 12-month high of C$45.18. The firm has a market capitalization of C$39.38 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 2.26 and a beta of 0.86. The stock’s 50 day moving average price is C$41.95 and its two-hundred day moving average price is C$42.23. The company has a quick ratio of 22.18, a current ratio of 12.42 and a debt-to-equity ratio of 32.33.

Great-West Lifeco (TSE:GWO) last issued its earnings results on Wednesday, February 14th. The company reported C$1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

Insider Activity

In related news, Senior Officer Linda Kerrigan sold 5,000 shares of the stock in a transaction that occurred 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 Great-West Lifeco news, Senior Officer Dervla Mary Tomlin sold 5,400 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$42.33, for a total transaction of C$228,590.10. Also, Senior Officer Linda Kerrigan sold 5,000 shares of the business’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 transaction of C$214,750.00. Over the last ninety days, insiders sold 13,300 shares of company stock worth $566,402. Corporate insiders own 70.57% of the company’s stock.

Great-West Lifeco Announces Dividend

The firm 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 dividend of $0.555 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.22 annualized dividend and a dividend yield of 5.26%. Great-West Lifeco’s dividend payout ratio is presently 75.77%.

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.