Globe Life Inc. (NYSE:GL) Expected to Announce Quarterly Sales of $1.17 Billion

Wall Street analysts expect Globe Life Inc. (NYSE:GL) to report $1.17 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Globe Life’s earnings. The lowest sales estimate is $1.16 billion and the highest is $1.17 billion. Globe Life reported sales of $1.12 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The firm is expected to report its next quarterly earnings results on Wednesday, April 15th.

On average, analysts expect that Globe Life will report full-year sales of $4.69 billion for the current fiscal year, with estimates ranging from $4.69 billion to $4.70 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.88 billion, with estimates ranging from $4.87 billion to $4.91 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Globe Life.

Globe Life (NYSE:GL) last issued its earnings results on Tuesday, February 4th. The company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.02). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Globe Life had a return on equity of 11.22% and a net margin of 16.80%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 EPS.

GL has been the subject of several recent analyst reports. Barclays reaffirmed a “sell” rating and issued a $84.00 target price on shares of Globe Life in a report on Tuesday, January 7th. ValuEngine downgraded shares of Globe Life from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $95.25.

In related news, CFO Frank M. Svoboda sold 5,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.44, for a total value of $547,200.00. Following the completion of the transaction, the chief financial officer now owns 15,000 shares of the company’s stock, valued at approximately $1,641,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Henry Rogers, Jr. sold 3,750 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.67, for a total transaction of $411,262.50. Following the completion of the transaction, the insider now directly owns 3,750 shares of the company’s stock, valued at approximately $411,262.50. The disclosure for this sale can be found here. Insiders have sold a total of 17,750 shares of company stock valued at $1,948,103 in the last three months. Insiders own 3.64% of the company’s stock.

Several large investors have recently made changes to their positions in GL. State Street Corp bought a new position in shares of Globe Life in the 3rd quarter valued at about $505,144,000. Boston Partners purchased a new stake in Globe Life in the 3rd quarter worth about $138,276,000. California Public Employees Retirement System purchased a new stake in Globe Life in the 3rd quarter worth about $88,278,000. SPF Beheer BV purchased a new stake in Globe Life in the 3rd quarter worth about $85,160,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Globe Life in the 3rd quarter worth about $40,947,000. 73.83% of the stock is owned by hedge funds and other institutional investors.

Globe Life stock traded down $2.34 during mid-day trading on Friday, hitting $100.74. The stock had a trading volume of 676,000 shares, compared to its average volume of 421,574. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.05 and a quick ratio of 0.05. The company has a 50 day moving average of $106.52. Globe Life has a one year low of $80.14 and a one year high of $111.43.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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Earnings History and Estimates for Globe Life (NYSE:GL)

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