Globe Life (NYSE:GL – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $12.20-12.40 for the period, compared to the consensus earnings per share estimate of $11.94. Globe Life also updated its FY25 guidance to $13.20-13.90 EPS.
Globe Life Stock Performance
NYSE:GL traded down $0.21 during midday trading on Wednesday, hitting $110.86. The company’s stock had a trading volume of 642,265 shares, 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 fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s 50 day moving average is $104.60 and its 200-day moving average is $90.63. The firm has a market cap of $9.98 billion, a P/E ratio of 10.60 and a beta of 0.81.
Globe Life (NYSE:GL – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business posted $2.61 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Globe Life will post 11.93 earnings per share for the current fiscal year.
Globe Life Announces Dividend
Analyst Upgrades and Downgrades
GL has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group upped their price objective on shares of 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 target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Evercore ISI boosted their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Finally, Piper Sandler raised their target price on Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $117.40.
Get Our Latest Stock Analysis on Globe Life
Insiders Place Their Bets
In related news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing 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.
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