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

Globe Life (NYSE:GLGet Free Report) announced its earnings results on Monday. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01), Briefing.com reports. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. 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 Trading Down 0.5 %

NYSE:GL opened at $66.39 on Tuesday. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The firm has a market capitalization of $6.24 billion, a P/E ratio of 6.59 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50 day simple moving average of $110.58 and a 200 day simple moving average of $116.35.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Keefe, Bruyette & Woods lowered their price objective on 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. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler lowered their price objective on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.44.

Get Our Latest Stock Analysis on GL

About Globe Life

(Get Free Report)

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.

Further Reading

Earnings History for Globe Life (NYSE:GL)

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