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

Globe Life (NYSE:GL) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 11.500-12.000 for the period, compared to the consensus estimate of 11.600. The company issued revenue guidance of -. Globe Life also updated its FY24 guidance to $11.50-12.00 EPS.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Globe Life from $146.00 to $132.00 and set an overweight rating for the company in a research report on Thursday, April 11th. StockNews.com lowered Globe Life from a buy rating to a hold rating in a report on Saturday. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a report on Thursday, February 8th. Evercore ISI lowered their price target on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a report on Friday, April 12th. Finally, Piper Sandler lowered their price target on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $119.22.

Globe Life Stock Up 4.4 %

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

Globe Life (NYSE:GL) last issued its quarterly 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 business 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 business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.53 earnings per share. Analysts predict that Globe Life will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

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

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.