Torchmark Corp. Downgraded by FBR Capital Markets to Market Perform (TMK)
Torchmark Corp. (NYSE:TMK) was downgraded by stock analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $69.00 target price on the stock. FBR Capital Markets’ target price would suggest a potential downside of 4.63% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank initiated coverage on shares of Torchmark Corp. (NYSE:TMK) in a research note to investors on Monday, September 23rd. They set a “buy” rating and a $80.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Torchmark Corp. (NYSE:TMK) in a research note to investors on Thursday, August 8th. They now have a $74.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Torchmark Corp. (NYSE:TMK) in a research note to investors on Friday, July 26th. They now have a $74.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Torchmark Corp. presently has an average rating of “Hold” and a consensus price target of $69.58.
Torchmark Corp. (NYSE:TMK) traded down 0.18% during mid-day trading on Tuesday, hitting $72.22. 119,327 shares of the company’s stock traded hands. Torchmark Corp. has a 52 week low of $49.10 and a 52 week high of $73.14. The stock’s 50-day moving average is $71.25 and its 200-day moving average is $66.08. The company has a market cap of $6.614 billion and a P/E ratio of 12.83.
Torchmark Corp. (NYSE:TMK) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. During the same quarter in the prior year, the company posted $1.32 earnings per share. Analysts expect that Torchmark Corp. will post $5.70 EPS for the current fiscal year.
Torchmark Corporation is an insurance holding company. The Company is financial services holding company whose affiliate Companies market life insurance and supplemental health insurance to middle-income Americans.
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