Globe Life (NYSE:GL) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Globe Life (NYSE:GL) issued its quarterly earnings data on Monday. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01), Briefing.com reports. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Globe Life updated its FY24 guidance to $11.50-12.00 EPS and its FY 2024 guidance to 11.500-12.000 EPS.

Globe Life Price Performance

Shares of NYSE:GL opened at $75.79 on Wednesday. Globe Life has a one year low of $38.95 and a one year high of $132.00. The stock has a fifty day moving average of $109.59 and a 200-day moving average of $116.08. The company has a market capitalization of $7.13 billion, a PE ratio of 7.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio is 9.17%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GL shares. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Piper Sandler reduced their price objective 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. Evercore ISI reduced their price objective 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, Wells Fargo & Company reduced their price objective 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. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.22.

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.