Brokerages Expect Globe Life Inc. (NYSE:GL) Will Announce Earnings of $1.70 Per Share

Brokerages expect Globe Life Inc. (NYSE:GL) to report earnings per share (EPS) of $1.70 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Globe Life’s earnings, with estimates ranging from $1.67 to $1.72. Globe Life posted earnings per share of $1.59 during the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The business is scheduled to announce its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Globe Life will report full year earnings of $6.73 per share for the current year, with EPS estimates ranging from $6.67 to $6.76. For the next year, analysts forecast that the company will report earnings of $7.15 per share, with EPS estimates ranging from $7.01 to $7.29. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Globe Life.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Globe Life had a return on equity of 12.34% and a net margin of 16.26%.

GL has been the topic of several recent research reports. ValuEngine cut shares of Globe Life from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. UBS Group lowered 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. Credit Suisse Group assumed coverage on shares of Globe Life in a research note on Friday, September 20th. They issued an “outperform” rating and a $114.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, September 3rd.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Orrstown Financial Services Inc. bought a new position in shares of Globe Life during the 3rd quarter valued at $56,000. CX Institutional bought a new stake in Globe Life during the 3rd quarter valued at about $161,000. Gofen & Glossberg LLC IL bought a new stake in shares of Globe Life in the third quarter worth approximately $229,000. Welch & Forbes LLC bought a new stake in Globe Life during the third quarter valued at approximately $290,000. Finally, Legacy Private Trust Co. bought a new stake in Globe Life during the third quarter valued at approximately $317,000. Institutional investors and hedge funds own 75.43% of the company’s stock.

Globe Life stock opened at $94.25 on Monday. Globe Life has a one year low of $69.68 and a one year high of $96.92. The business’s 50-day simple moving average is $92.39. The firm has a market cap of $10.28 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.06 and a current ratio of 0.06.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.172 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.69 dividend on an annualized basis and a yield of 0.73%. Globe Life’s dividend payout ratio (DPR) is 11.26%.

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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