Desjardins Comments on Great-West Lifeco Inc’s FY2017 Earnings (GWO)
Great-West Lifeco Inc (TSE:GWO) – Investment analysts at Desjardins lowered their FY2017 earnings per share estimates for shares of Great-West Lifeco in a research report issued on Wednesday. Desjardins analyst D. Young now expects that the company will earn $2.83 per share for the year, down from their previous estimate of $2.85.
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A number of other equities research analysts also recently commented on the company. CIBC downgraded Great-West Lifeco from a “neutral” rating to an “underperform” rating and cut their price objective for the company from C$39.00 to C$37.00 in a research report on Friday, May 5th. TD Securities downgraded Great-West Lifeco from a “buy” rating to a “hold” rating and cut their price objective for the company from C$42.00 to C$37.00 in a research report on Friday, May 5th. Scotiabank cut their price objective on Great-West Lifeco from C$41.00 to C$39.00 and set a “sector perform” rating for the company in a research report on Friday, May 5th. Barclays PLC increased their price objective on Great-West Lifeco from C$36.00 to C$37.00 in a research report on Wednesday, July 12th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$39.00 price objective on shares of Great-West Lifeco in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$36.70.
Great-West Lifeco (TSE:GWO) opened at 35.76 on Friday. Great-West Lifeco has a 52-week low of $30.83 and a 52-week high of $37.79. The firm’s 50-day moving average price is $35.06 and its 200 day moving average price is $35.74. The stock has a market cap of $35.40 billion and a P/E ratio of 13.56.
In other news, insider Lifeco U.S. Holding Great-West sold 33,665 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of C$34.11, for a total value of C$1,148,313.15. Also, Director Deborah Jean Barrett bought 2,900 shares of Great-West Lifeco stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average price of C$34.91 per share, with a total value of C$101,239.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.367 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.11%.
Great-West Lifeco Company Profile
Great-West Lifeco Inc (Lifeco) is a financial services holding company. The Company has interests in the life insurance, health insurance, asset management, investment and retirement savings, and reinsurance businesses. It operates through four operating segments: Canada, United States, Europe and Lifeco Corporate.
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