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

Globe Life (NYSE:GL) is scheduled to announce its earnings results 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.Parties that wish to register for the company’s conference call can do so using this link.

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

GL opened at $109.72 on Monday. The stock has a fifty day moving average price of $103.87 and a 200 day moving average price of $90.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 10.48 and a beta of 0.81.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued 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 dividend payout ratio is 9.17%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Truist Financial upped their price objective 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 target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Piper Sandler boosted their target price on Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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 bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.51% of the company’s stock.

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.