Globe Life (GL) Scheduled to Post Quarterly Earnings on Wednesday

Globe Life (NYSE:GL) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $3.05 per share for the quarter. Globe Life has set its FY 2024 guidance at 11.800-12.100 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 EPS. On average, analysts expect Globe Life to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Globe Life Price Performance

NYSE:GL opened at $110.80 on Wednesday. The company’s 50-day moving average price is $102.72 and its two-hundred day moving average price is $90.66. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.98 billion, a PE ratio of 10.58 and a beta of 0.81. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life Dividend Announcement

The business 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 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 0.87%. Globe Life’s payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of research analyst reports. Piper Sandler upped their target price on shares of Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price objective on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Truist Financial lifted their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company raised their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Five investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.40.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen acquired 3,000 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

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.