Globe Life (NYSE:GL) Announces Quarterly Earnings Results, Beats Estimates By $0.43 EPS

Globe Life (NYSE:GL) announced its quarterly earnings data on Wednesday. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43, Yahoo Finance reports. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share.

Globe Life Stock Down 3.9 %

Globe Life stock traded down $4.24 during midday trading on Friday, reaching $105.15. The stock had a trading volume of 1,133,709 shares, compared to its average volume of 1,597,281. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s fifty day simple moving average is $105.21 and its 200-day simple moving average is $90.90. The stock has a market capitalization of $9.44 billion, a P/E ratio of 9.48 and a beta of 0.81.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.24 per share. 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 dividend payout ratio is currently 8.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GL shares. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley boosted their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group increased their price target on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. TD Cowen assumed coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. 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’s stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average 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.