Globe Life (NYSE:GL) Releases FY24 Earnings Guidance

Globe Life (NYSE:GL) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $11.50-12.00 for the period, compared to the consensus EPS estimate of $11.60. Globe Life also updated its FY 2024 guidance to 11.500-12.000 EPS.

Analysts Set New Price Targets

GL has been the subject of a number of analyst reports. Evercore ISI decreased their price objective 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. Truist Financial restated a hold rating and issued a $125.00 price target on shares of Globe Life in a report on Friday, April 12th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a market perform rating to an outperform rating and reduced their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Finally, StockNews.com downgraded Globe Life from a buy rating to a hold rating in a research report on Saturday. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Globe Life has a consensus rating of Moderate Buy and an average target price of $124.22.

Globe Life Trading Up 14.2 %

NYSE GL opened at $75.79 on Wednesday. The stock has a market cap of $7.13 billion, a P/E ratio of 7.24 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 12-month low of $38.95 and a 12-month high of $132.00. The company has a fifty day simple moving average of $109.59 and a two-hundred day simple moving average of $116.08.

Globe Life (NYSE:GL) last issued 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 firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations 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 was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $2.53 EPS. On average, analysts forecast that Globe Life will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio 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.