Globe Life (NYSE:GL) Rating Increased to Buy at Zacks Investment Research

Globe Life (NYSE:GL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $98.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 10.96% from the company’s current price.

According to Zacks, “Globe Life Inc. is a financial services holding company. It operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. Globe Life Inc., formerly known as Torchmark Corporation, is based in McKinney, Texas. “

GL traded up $0.61 on Thursday, hitting $88.32. The company had a trading volume of 387,100 shares, compared to its average volume of 482,112. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life has a 52-week low of $69.68 and a 52-week high of $93.26. The firm has a market capitalization of $9.57 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.02. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Analysts expect that Globe Life will post 6.73 EPS for the current fiscal year.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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