Globe Life (NYSE:GL) Issues FY 2024 Earnings Guidance

Globe Life (NYSE:GL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 11.500-12.000 for the period, compared to the consensus EPS estimate of 11.600. The company issued revenue guidance of -. Globe Life also updated its FY24 guidance to $11.50-12.00 EPS.

Analyst Ratings Changes

A number of equities analysts have weighed in on GL shares. StockNews.com lowered Globe Life from a buy rating to a hold rating in a research note on Saturday. Truist Financial reiterated a hold rating and issued a $125.00 price objective on shares of Globe Life in a report on Friday, April 12th. Evercore ISI lowered their target price 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. Piper Sandler lowered their target price 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, Wells Fargo & Company lowered 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. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $126.44.

Globe Life Stock Down 0.5 %

Shares of Globe Life stock opened at $66.39 on Tuesday. The firm has a market cap of $6.24 billion, a P/E ratio of 6.59 and a beta of 0.69. The business has a 50-day moving average price of $110.58 and a 200 day moving average price of $116.35. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. 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 (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion during 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 business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.24 EPS. On average, sell-side analysts forecast that Globe Life will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

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

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.