Globe Life (NYSE:GL) Releases Earnings Results, Beats Expectations By $0.43 EPS

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

Globe Life Stock Down 4.5 %

Shares of Globe Life stock traded down $4.93 during trading on Friday, hitting $104.46. 599,626 shares of the stock were exchanged, compared to its average volume of 1,594,476. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 9.48 and a beta of 0.81. The firm’s 50-day moving average price is $105.21 and its 200 day moving average price is $90.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life’s payout ratio is 8.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Raymond James boosted their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

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.