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

Globe Life (NYSE:GL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 11.500-12.000 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:GL traded down $0.35 during midday trading on Monday, hitting $66.39. The stock had a trading volume of 4,062,805 shares, compared to its average volume of 1,903,504. The company’s 50-day moving average price is $111.78 and its 200-day moving average price is $116.65. The company has a market capitalization of $6.24 billion, a P/E ratio of 6.70 and a beta of 0.69. The company has a quick ratio of 0.05, a current 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 announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.15. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. Globe Life’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.24 EPS. As a group, equities research analysts predict that Globe Life will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared 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. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is 9.52%.

Analysts Set New Price Targets

GL has been the subject of several analyst reports. Wells Fargo & Company lowered 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. Evercore ISI decreased their target price on shares of Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research report on Friday, April 12th. StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a research report on Saturday. Piper Sandler lowered their target price on shares of Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research note on Friday, April 5th. Finally, Truist Financial reiterated a hold rating and set a $125.00 price target on shares of Globe Life in a report on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $126.44.

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.