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

Globe Life (NYSE:GL) updated 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 Performance

Shares of GL stock opened at $66.39 on Tuesday. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 6.59 and a beta of 0.69. The stock’s fifty day simple moving average is $110.58 and its 200-day simple moving average is $116.35.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. Globe Life’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Globe Life will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.45%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is 9.52%.

Analyst Ratings Changes

GL has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Globe Life from $146.00 to $132.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Truist Financial restated a hold rating and issued a $125.00 target price on shares of Globe Life in a research note on Friday, April 12th. Keefe, Bruyette & Woods lowered their target price on Globe Life from $135.00 to $130.00 and set a market perform rating on the stock in a research note on Wednesday, April 10th. Evercore ISI reduced their price target on 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. Finally, Piper Sandler reduced their price target on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life presently has a consensus rating of Moderate Buy and a consensus price target 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.