Great-West Lifeco (TSE:GWO) had its price objective dropped by equities research analysts at Desjardins from C$37.00 to C$35.00 in a research report issued to clients and investors on Thursday. Desjardins’ price target suggests a potential upside of 6.42% from the company’s current price. Desjardins also issued estimates for Great-West Lifeco’s Q1 2018 earnings at $0.72 EPS, Q2 2018 earnings at $0.75 EPS and Q3 2018 earnings at $0.74 EPS.
Several other research firms have also recently issued reports on GWO. National Bank Financial raised their target price on Great-West Lifeco from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Barclays cut their target price on Great-West Lifeco from C$38.00 to C$36.00 in a research note on Thursday, January 11th. Scotiabank cut their target price on Great-West Lifeco from C$40.00 to C$39.00 and set a “sector perform” rating for the company in a research note on Friday, February 9th. CIBC cut Great-West Lifeco from an “outperform” rating to a “negative” rating in a research note on Friday, February 9th. Finally, TD Securities cut their target price on Great-West Lifeco from C$39.00 to C$38.00 and set a “hold” rating for the company in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Great-West Lifeco presently has an average rating of “Hold” and an average price target of C$37.20.
TSE:GWO opened at C$32.89 on Thursday. Great-West Lifeco has a one year low of C$32.27 and a one year high of C$37.35.
Great-West Lifeco (TSE:GWO) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.75 EPS for the quarter, beating the consensus estimate of C$0.74 by C$0.01. Great-West Lifeco had a return on equity of 7.94% and a net margin of 3.43%. The firm had revenue of C$12.89 billion during the quarter.
In other news, insider Lifeco U.S. Holding Great-West acquired 85,000 shares of the company’s stock in a transaction dated Saturday, March 31st. The stock was acquired at an average cost of C$32.75 per share, with a total value of C$2,783,750.00. Also, Director Arshil Jamal sold 25,000 shares of Great-West Lifeco stock in a transaction on Thursday, March 8th. The shares were sold at an average price of C$34.00, for a total value of C$850,000.00.
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About Great-West Lifeco
Great-West Lifeco Inc, a financial services holding company, engages in life and health insurance, asset management, investment and retirement savings, and reinsurance businesses in Canada, the United States, Europe, and Asia. The company offers a portfolio of financial and benefit plan solutions for individuals, families, businesses, and organizations; life, disability, critical illness, accidental death, dismemberment, dental protection, direct marketing, health, and creditor insurance products; and wealth accumulation and annuity products.
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