Globe Life (NYSE:GL) Releases FY24 Earnings Guidance

Globe Life (NYSE:GL) 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) 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

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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

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.

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.