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

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

Globe Life Price Performance

NYSE:GL traded down $4.24 during midday trading on Friday, hitting $105.15. The company had a trading volume of 1,133,709 shares, compared to its average volume of 1,597,281. The company has a market capitalization of $9.44 billion, a PE ratio of 9.48 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The stock’s fifty day moving average price is $105.21 and its 200-day moving average price is $90.90.

Globe Life Dividend Announcement

The business 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is currently 8.68%.

Analysts Set New Price Targets

Several research analysts have weighed in on GL shares. Morgan Stanley boosted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group raised their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

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.