Torchmark Corporation (TMK) Issues FY17 Earnings Guidance
Torchmark Corporation (NYSE:TMK) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.77-4.83 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.75. Torchmark Corporation also updated its FY18 guidance to $5.00-5.25 EPS.
Shares of Torchmark Corporation (NYSE:TMK) traded up 0.22% on Tuesday, hitting $83.88. The company’s stock had a trading volume of 382,525 shares. The stock’s 50-day moving average price is $79.46 and its 200-day moving average price is $77.53. Torchmark Corporation has a 52 week low of $62.86 and a 52 week high of $84.07. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 18.04 and a beta of 1.00.
Torchmark Corporation (NYSE:TMK) last released its earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Torchmark Corporation had a return on equity of 11.55% and a net margin of 13.96%. Torchmark Corporation’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. Equities analysts expect that Torchmark Corporation will post $4.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.72%. Torchmark Corporation’s dividend payout ratio is currently 12.88%.
Several analysts recently weighed in on TMK shares. Zacks Investment Research upgraded Torchmark Corporation from a sell rating to a hold rating and set a $88.00 price objective for the company in a research report on Friday, July 28th. Keefe, Bruyette & Woods restated a hold rating and set a $78.00 price objective on shares of Torchmark Corporation in a research report on Sunday, October 8th. Barclays PLC upped their price objective on Torchmark Corporation from $65.00 to $67.00 and gave the stock an underweight rating in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) started coverage on Torchmark Corporation in a research report on Wednesday, October 18th. They set a neutral rating and a $83.00 price objective for the company. Finally, BidaskClub upgraded Torchmark Corporation from a hold rating to a buy rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $75.83.
In other news, VP Arvelia Bowie sold 16,875 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $78.45, for a total transaction of $1,323,843.75. Following the completion of the transaction, the vice president now directly owns 17,941 shares in the company, valued at $1,407,471.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Henry Rogers, Jr. sold 1,875 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $79.25, for a total value of $148,593.75. Following the transaction, the insider now owns 1,875 shares of the company’s stock, valued at $148,593.75. The disclosure for this sale can be found here. Insiders sold 137,821 shares of company stock valued at $10,837,593 over the last quarter. Corporate insiders own 3.79% of the company’s stock.
About Torchmark Corporation
Torchmark Corporation (Torchmark) is an insurance holding company. The Company, through its subsidiaries, provides a range of life and health insurance products and annuities to a base of customers. The Company’s segments include life insurance, health insurance, annuities and investment. The life insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurance.
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