Globe Life (NYSE:GL) Announces Quarterly Earnings Results, Beats Estimates By $0.43 EPS

Globe Life (NYSE:GL) released its quarterly earnings data on Wednesday. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43, Yahoo Finance reports. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 earnings per share.

Globe Life Trading Down 3.9 %

Shares of Globe Life stock traded down $4.24 during trading on Friday, hitting $105.15. 1,135,956 shares of the company were exchanged, compared to its average volume of 1,597,292. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s fifty day moving average price is $105.37 and its 200 day moving average price is $90.88. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market capitalization of $9.47 billion, a P/E ratio of 10.04 and a beta of 0.81.

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 0.91%. Globe Life’s payout ratio is currently 9.17%.

Analysts Set New Price Targets

GL has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price objective (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

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.