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

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

Globe Life Stock Performance

Shares of GL traded down $4.24 during mid-day trading on Friday, hitting $105.15. The company’s stock had a trading volume of 1,135,956 shares, compared to its average volume of 1,597,292. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $9.47 billion, a PE ratio of 10.04 and a beta of 0.81. The stock’s 50-day moving average is $105.37 and its two-hundred day moving average is $90.88.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Globe Life’s dividend payout ratio is 9.17%.

Wall Street Analyst Weigh In

GL has been the topic of a number of research reports. Jefferies Financial Group upped their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, June 28th. Morgan Stanley upped their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Truist Financial increased their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday. Finally, Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.