Torchmark (NYSE:TMK) Updates FY 2019 Earnings Guidance

Torchmark (NYSE:TMK) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $6.61-6.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.59. Torchmark also updated its FY19 guidance to $6.61-6.75 bln EPS.

Separately, Zacks Investment Research raised shares of Torchmark from a sell rating to a hold rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $86.00.

Shares of TMK stock traded up $1.10 during mid-day trading on Friday, reaching $88.24. 331,736 shares of the company’s stock traded hands, compared to its average volume of 438,907. Torchmark has a 12 month low of $69.68 and a 12 month high of $91.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.65 and a beta of 1.01.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. Torchmark had a net margin of 16.37% and a return on equity of 12.75%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts expect that Torchmark will post 6.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s payout ratio is 11.26%.

In related news, EVP Robert Brian Mitchell sold 12,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.67, for a total value of $980,040.00. Following the completion of the transaction, the executive vice president now owns 51,808 shares of the company’s stock, valued at approximately $4,231,159.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Ingram sold 290 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $87.85, for a total transaction of $25,476.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,514 shares of company stock valued at $19,407,694. Insiders own 3.64% of the company’s stock.

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Torchmark Company Profile

Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.

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Earnings History and Estimates for Torchmark (NYSE:TMK)

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