Zacks Reiterates Neutral Rating for Torchmark Corp. (TMK)
Torchmark Corp. (NYSE:TMK)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Wednesday, Analyst Ratings.Net reports. They currently have a $76.00 price objective on the stock. Zacks‘ price objective indicates a potential upside of 5.98% from the stock’s previous close.
Zacks‘ analyst wrote, “Torchmark has been generating favorable earnings over the past many quarters and the company is poised to generate favorable returns over the long term led by its niche market focus, steady capital deployment and strong operating fundamentals. Among the company’s distribution channels, American Income and Globe Life are performing well. Liberty National though had lower premiums, but posted better underwriting margins. We are optimistic on the company’s acquisition of Family Heritage Life, which is accretive to its earnings. We are, however, concerned with challenges in the company’s health insurance business and weak investment income. A strong capital position and good capital management are the other positives. We thus reiterate our Neutral recommendation on Torchmark. “
A number of other analysts have also recently weighed in on TMK. Analysts at FBR & Co. downgraded shares of Torchmark Corp. (NYSE:TMK) from an “outperform” rating to an “underperform” rating in a research note to investors on Tuesday. Separately, analysts at FBR Capital Markets downgraded shares of Torchmark Corp. (NYSE:TMK) from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. They now have a $69.00 price target on the stock. They noted that the move was a valuation call. Finally, 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Torchmark Corp. currently has a consensus rating of “Hold” and an average target price of $69.75.
Shares of Torchmark Corp. (NYSE:TMK) traded down 0.33% on Wednesday, hitting $71.71. The stock had a trading volume of 467,564 shares. Torchmark Corp. has a one year low of $49.10 and a one year high of $73.14. The stock’s 50-day moving average is $71.29 and its 200-day moving average is $66.21. The company has a market cap of $6.567 billion and a price-to-earnings ratio of 12.75.
Torchmark Corp. (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.40 by $0.04. During the same quarter last year, the company posted $1.32 earnings per share. On average, analysts predict that Torchmark Corp. will post $5.70 earnings per share 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.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.