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

Globe Life (NYSE:GL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 12.200-12.400 for the period, compared to the consensus estimate of 11.940. The company issued revenue guidance of -. Globe Life also updated its FY 2025 guidance to 13.200-13.900 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GL. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 price target (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Stock Down 3.9 %

Shares of GL stock traded down $4.30 during mid-day trading on Friday, hitting $105.09. 481,514 shares of the stock traded hands, compared to its average volume of 1,593,963. The stock has a market cap of $9.44 billion, a P/E ratio of 9.48 and a beta of 0.81. The stock’s fifty day moving average is $105.21 and its two-hundred day moving average is $90.90. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.71 earnings per share. Equities analysts predict that Globe Life will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life’s dividend payout ratio (DPR) is presently 8.68%.

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.