Globe Life (NYSE:GL) announced its earnings results on Tuesday. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03, MarketWatch Earnings reports. Globe Life had a return on equity of 8.69% and a net margin of 15.29%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm earned $1.65 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis.
GL traded down $0.85 during trading hours on Thursday, reaching $93.00. The company’s stock had a trading volume of 6,705 shares, compared to its average volume of 433,563. Globe Life has a fifty-two week low of $74.44 and a fifty-two week high of $108.22. The stock has a market cap of $9.58 billion, a PE ratio of 13.39 and a beta of 1.14. The business has a 50-day moving average of $99.92. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Monday, July 5th will be issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, July 1st.
A number of equities analysts have weighed in on GL shares. Piper Sandler reduced their price objective on Globe Life from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, July 8th. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on Globe Life from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, June 7th. Morgan Stanley lifted their price target on Globe Life from $100.00 to $105.00 and gave the company an “underweight” rating in a research note on Wednesday, May 19th. JPMorgan Chase & Co. lifted their price target on Globe Life from $99.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Finally, Zacks Investment Research lowered Globe Life from a “hold” rating to a “sell” rating in a research note on Friday, July 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $105.80.
About Globe Life
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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