Globe Life (NYSE:GL - Get Free Report) posted its quarterly earnings results 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. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the company posted $2.71 earnings per share. The firm's quarterly revenue was up 5.1% on a year-over-year basis.
Globe Life Price Performance
NYSE GL traded down $4.24 on Friday, reaching $105.15. The company's stock had a trading volume of 1,133,709 shares, compared to its average volume of 1,597,292. Globe Life has a twelve month low of $38.95 and a twelve month 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's 50 day moving average is $105.37 and its two-hundred day moving average is $90.88. The stock has a market cap of $9.44 billion, a PE ratio of 9.51 and a beta of 0.81.
Globe Life Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life's dividend payout ratio is currently 8.68%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on GL. Wells Fargo & Company boosted their price target on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley raised their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday. Piper Sandler boosted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Raymond James increased their price objective 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. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.80.
Check Out Our Latest Report on Globe Life
Globe Life Company Profile
(
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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.
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