Globe Life (NYSE:GL) Issues FY24 Earnings Guidance

Globe Life (NYSE:GL) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $11.50-12.00 for the period, compared to the consensus estimate of $11.60.

Analyst Ratings Changes

Several brokerages recently commented on GL. Truist Financial reiterated a hold rating and set a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. StockNews.com downgraded Globe Life from a buy rating to a hold rating in a report on Saturday. Evercore ISI reduced their price target 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. Keefe, Bruyette & Woods decreased their price target on shares of Globe Life from $135.00 to $130.00 and set a market perform rating for the company in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Globe Life from $146.00 to $132.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $126.44.

Globe Life Stock Performance

Shares of NYSE:GL traded down $0.35 during trading on Monday, hitting $66.39. 3,944,210 shares of the company traded hands, compared to its average volume of 1,901,964. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 6.70 and a beta of 0.69. The business’s fifty day moving average is $111.78 and its 200-day moving average is $116.65. 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 one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.24 earnings per share. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.24 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.45%. Globe Life’s dividend payout ratio is 9.52%.

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.