Torchmark Corporation (TMK) Updates FY18 Earnings Guidance
Torchmark Corporation (NYSE:TMK) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.00-5.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.06. Torchmark Corporation also updated its FY17 guidance to $4.77-4.83 EPS.
Shares of Torchmark Corporation (NYSE TMK) traded up 0.22% on Tuesday, hitting $83.88. The stock had a trading volume of 382,525 shares. The firm has a market cap of $9.76 billion, a P/E ratio of 18.04 and a beta of 1.00. The firm’s 50-day moving average price is $79.46 and its 200 day moving average price is $77.53. Torchmark Corporation has a 12 month low of $62.86 and a 12 month high of $84.07.
Torchmark Corporation (NYSE:TMK) last released its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Torchmark Corporation had a net margin of 13.96% and a return on equity of 11.55%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts anticipate that Torchmark Corporation will post $4.75 EPS for the current fiscal year.
The business also recently declared 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 of this dividend is Thursday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.72%. Torchmark Corporation’s dividend payout ratio (DPR) is presently 12.88%.
Several brokerages recently issued reports on TMK. BidaskClub raised shares of Torchmark Corporation from a hold rating to a buy rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Torchmark Corporation from a hold rating to a sell rating in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) began coverage on shares of Torchmark Corporation in a research note on Wednesday, October 18th. They set a neutral rating and a $83.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $78.00 price objective on shares of Torchmark Corporation in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $75.83.
In other news, EVP Vern D. Herbel sold 27,500 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $78.62, for a total value of $2,162,050.00. Following the completion of the sale, the executive vice president now owns 56,943 shares of the company’s stock, valued at approximately $4,476,858.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert W. Ingram sold 1,827 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $78.66, for a total transaction of $143,711.82. The disclosure for this sale can be found here. In the last three months, insiders sold 137,821 shares of company stock valued at $10,837,593. Corporate insiders own 3.79% of the company’s stock.
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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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