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

Globe Life (NYSE:GL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 12.200-12.400 for the period, compared to the consensus earnings per share 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 Stock Down 3.9 %

Shares of GL stock traded down $4.24 during trading hours on Friday, reaching $105.15. The company had a trading volume of 1,135,956 shares, compared to its average volume of 1,597,292. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a market capitalization of $9.47 billion, a P/E ratio of 10.04 and a beta of 0.81. The stock’s fifty day simple moving average is $105.37 and its 200 day simple moving average is $90.88.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $2.71 EPS. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Globe Life’s payout ratio is 9.17%.

Analysts Set New Price Targets

Several analysts recently issued reports on GL shares. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group raised their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday. Finally, TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $123.80.

About Globe Life

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.