Globe Life (NYSE:GL) Releases 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.

Globe Life Price Performance

Shares of GL stock traded down $1.47 on Thursday, hitting $109.39. 1,240,694 shares of the stock traded hands, compared to its average volume of 1,599,529. 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 has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a 50 day simple moving average of $104.94 and a two-hundred day simple moving average of $90.77. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 10.77 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.61 earnings per share. As a group, equities research analysts predict that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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 dividend on an annualized basis and a yield of 0.88%. Globe Life’s dividend payout ratio is presently 9.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GL shares. Raymond James lifted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial lifted their price target on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Piper Sandler increased their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Evercore ISI increased their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.10.

Insiders Place Their Bets

In related news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares in the company, valued at $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.51% of the stock is currently owned by insiders.

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.