Globe Life (NYSE:GL) Updates FY 2024 Earnings Guidance

Globe Life (NYSE:GL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 11.500-12.000 for the period, compared to the consensus earnings per share estimate of 11.600. The company issued revenue guidance of -. Globe Life also updated its FY24 guidance to $11.50-12.00 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com cut shares of Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a market perform rating to an outperform rating and lowered their price objective for the stock from $130.00 to $110.00 in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a report on Wednesday. Evercore ISI lowered their price objective on shares of Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a report on Friday, April 12th. Finally, Truist Financial lowered their price objective on shares of Globe Life from $125.00 to $80.00 and set a hold rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $114.33.

Globe Life Trading Down 3.9 %

NYSE GL traded down $3.06 during trading on Thursday, hitting $75.54. The company had a trading volume of 4,153,327 shares, compared to its average volume of 2,083,196. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69. The company’s fifty day moving average is $107.65 and its 200-day moving average is $115.54.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 earnings per share. On average, sell-side analysts predict that Globe Life will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

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

About Globe Life

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.