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

Globe Life (NYSE:GL) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 11.500-12.000 for the period, compared to the consensus EPS 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 Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler reduced their target price on Globe Life from $143.00 to $130.00 and set an overweight rating on the stock in a research report on Friday, April 5th. Evercore ISI dropped their price target on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research note on Friday, April 12th. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and dropped their price target for the stock from $130.00 to $110.00 in a research note on Wednesday. Truist Financial lowered their target price on Globe Life from $125.00 to $80.00 and set a hold rating for the company in a research note on Wednesday. Finally, StockNews.com lowered Globe Life from a buy rating to a hold rating in a research note on Saturday. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has a consensus rating of Moderate Buy and an average target price of $119.22.

Globe Life Stock Performance

GL stock traded up $3.35 during midday trading on Wednesday, reaching $79.11. The company had a trading volume of 2,179,897 shares, compared to its average volume of 2,000,558. The firm has a market capitalization of $7.44 billion, a PE ratio of 7.36 and a beta of 0.69. The stock has a 50 day moving average price of $109.59 and a 200 day moving average price of $116.08. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $2.53 earnings per share. Analysts anticipate that Globe Life will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.24 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.17%.

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.