Torchmark Corp. Stock Rating Reaffirmed by Zacks (TMK)
Torchmark Corp. (NYSE:TMK)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday, Stock Ratings Network.com reports. They currently have a $82.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 5.52% from the stock’s previous close.
Zacks‘ analyst wrote, “Torchmark Corp. has performed favorably in the first nine months of 2013 led by overall premium growth as well as higher net investment income. We expect the trend to continue over the long term driven 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 is however, underperforming despite restructuring efforts undertaken for its turnaround. 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 its weak investment income. A strong capital position and good capital management are the other positives. We thus reiterate our Neutral recommendation on Torchmark. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James downgraded shares of Torchmark Corp. from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday, January 15th. Separately, analysts at Barclays raised their price target on shares of Torchmark Corp. from $82.00 to $90.00 in a research note to investors on Tuesday, January 7th. They now have an “overweight” rating on the stock. Finally, analysts at Scotiabank downgraded shares of Torchmark Corp. from a “sector perform” rating to an “underperform” rating in a research note to investors on Friday, November 22nd. They now have a $75.00 price target on the stock, up previously from $72.00. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $74.64.
Shares of Torchmark Corp. (NYSE:TMK) traded down 0.33% on Monday, hitting $77.71. The stock had a trading volume of 327,640 shares. Torchmark Corp. has a one year low of $53.63 and a one year high of $79.42. The stock has a 50-day moving average of $77.23 and a 200-day moving average of $73.15. The company has a market cap of $7.026 billion and a price-to-earnings ratio of 13.68.
Torchmark Corp. (NYSE:TMK) last announced its earnings results on Wednesday, October 23rd. The company reported $1.43 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.43. During the same quarter in the prior year, the company posted $1.29 earnings per share. On average, analysts predict that Torchmark Corp. will post $5.72 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.
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