Globe Life (NYSE:GL) Issues FY 2019 Earnings Guidance

Globe Life (NYSE:GL) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $6.71-6.77 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.73. Globe Life also updated its FY 2020 guidance to $7.00-7.30 EPS.

Several analysts have commented on the stock. UBS Group dropped their target price on shares of Globe Life from $85.00 to $84.00 and set a sell rating on the stock in a report on Thursday, October 10th. Zacks Investment Research upgraded shares of Globe Life from a hold rating to a buy rating and set a $99.00 target price on the stock in a report on Tuesday, September 3rd. ValuEngine downgraded shares of Globe Life from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group started coverage on shares of Globe Life in a report on Friday, September 20th. They issued an outperform rating and a $114.00 price objective on the stock.

Shares of NYSE GL traded up $0.80 during midday trading on Thursday, reaching $96.47. The company’s stock had a trading volume of 567,255 shares, compared to its average volume of 467,055. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life has a fifty-two week low of $69.68 and a fifty-two week high of $97.79. The company has a market cap of $10.47 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.87 and a beta of 0.95. The stock has a 50 day simple moving average of $94.07.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $1.59 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Globe Life will post 6.74 EPS for the current fiscal year.

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 issued a $0.172 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.71%. Globe Life’s dividend payout ratio (DPR) is presently 11.26%.

In related news, EVP Vern D. Herbel sold 50,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the transaction, the executive vice president now directly owns 50,000 shares in the company, valued at $4,612,500. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Larry M. Hutchison sold 25,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $92.45, for a total transaction of $2,311,250.00. Following the transaction, the chief executive officer now owns 610,510 shares in the company, valued at $56,441,649.50. The disclosure for this sale can be found here. Insiders sold 100,820 shares of company stock worth $9,241,936 over the last quarter. 3.64% of the stock is owned by corporate insiders.

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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