Globe Life (NYSE:GL) Issues Earnings Results

Globe Life (NYSE:GL) issued its quarterly earnings data on Monday. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01), Briefing.com reports. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $2.53 EPS. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. Globe Life updated its FY24 guidance to $11.50-12.00 EPS and its FY 2024 guidance to 11.500-12.000 EPS.

Globe Life Trading Up 14.2 %

Shares of GL stock opened at $75.79 on Wednesday. The business’s fifty day moving average price is $109.59 and its 200 day moving average price is $116.08. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market capitalization of $7.13 billion, a PE ratio of 7.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI reduced their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company dropped their target price on Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Truist Financial reissued a “hold” rating and issued a $125.00 target price on shares of Globe Life in a report on Friday, April 12th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.22.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.