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

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

Globe Life Stock Down 3.9 %

Shares of GL stock traded down $3.06 during mid-day trading on Thursday, hitting $75.54. 4,153,327 shares of the stock traded hands, compared to its average volume of 2,083,196. The stock has a market cap of $7.10 billion, a P/E ratio of 7.21 and a beta of 0.69. The stock’s fifty day moving average is $107.65 and its two-hundred day moving average is $115.54. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $2.53 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Globe Life will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is 9.17%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GL. Evercore ISI cut their price objective on shares of Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a report on Friday, April 12th. Wells Fargo & Company cut their price target on shares of Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of Globe Life from a market perform rating to an outperform rating and cut their price target for the stock from $130.00 to $110.00 in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Finally, StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $114.33.

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.