Globe Life (NYSE:GL) Releases FY24 Earnings Guidance

Globe Life (NYSE:GL) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $12.20-12.40 for the period, compared to the consensus EPS estimate of $11.94. Globe Life also updated its FY25 guidance to $13.20-13.90 EPS.

Globe Life Price Performance

Shares of NYSE GL traded down $0.21 during trading on Wednesday, hitting $110.86. 642,265 shares of the company were exchanged, compared to its average volume of 1,601,209. 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 1 year low of $38.95 and a 1 year high of $132.00. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 10.60 and a beta of 0.81. The firm’s fifty day moving average price is $104.60 and its 200 day moving average price is $90.63.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm earned $2.61 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

A number of analysts have commented on GL shares. Jefferies Financial Group boosted their target price on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Raymond James boosted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Evercore ISI raised their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Wells Fargo & Company upped their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $117.40.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.51% of the company’s stock.

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.