$1.13 Billion in Sales Expected for Torchmark Co. (NYSE:TMK) This Quarter

Analysts expect Torchmark Co. (NYSE:TMK) to report sales of $1.13 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Torchmark’s earnings. Torchmark reported sales of $1.08 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Torchmark will report full year sales of $4.52 billion for the current year, with estimates ranging from $4.50 billion to $4.55 billion. For the next fiscal year, analysts expect that the company will report sales of $4.73 billion, with estimates ranging from $4.68 billion to $4.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Torchmark.

Torchmark (NYSE:TMK) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.02. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Torchmark had a return on equity of 12.90% and a net margin of 16.26%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS.

TMK has been the subject of several research reports. Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Tuesday, May 21st. Morgan Stanley lifted their target price on Torchmark from $84.00 to $86.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $86.50.

NYSE TMK opened at $87.88 on Friday. The company has a fifty day moving average price of $90.52. The firm has a market cap of $9.66 billion, a PE ratio of 14.34, a P/E/G ratio of 1.79 and a beta of 0.95. Torchmark has a 52 week low of $69.68 and a 52 week high of $93.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.06 and a quick ratio of 0.06.

In related news, EVP Vern D. Herbel sold 50,000 shares of Torchmark stock in a transaction on Friday, July 26th. The stock was sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the completion of the sale, the executive vice president now directly owns 50,000 shares of the company’s stock, valued at $4,612,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Henry Rogers, Jr. sold 1,000 shares of Torchmark stock in a transaction on Friday, June 7th. The stock was sold at an average price of $89.33, for a total value of $89,330.00. Following the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at $89,330. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,292 shares of company stock valued at $18,825,146. 3.64% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of TMK. Norges Bank acquired a new position in Torchmark in the fourth quarter valued at about $85,330,000. Nordea Investment Management AB lifted its holdings in shares of Torchmark by 1,351.9% in the first quarter. Nordea Investment Management AB now owns 396,865 shares of the insurance provider’s stock valued at $32,524,000 after purchasing an additional 369,531 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Torchmark by 22.8% in the first quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock valued at $115,529,000 after purchasing an additional 262,077 shares in the last quarter. FMR LLC lifted its holdings in shares of Torchmark by 10.2% in the fourth quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock valued at $210,192,000 after purchasing an additional 260,809 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Torchmark by 218.1% in the first quarter. BNP Paribas Arbitrage SA now owns 227,854 shares of the insurance provider’s stock valued at $18,673,000 after purchasing an additional 156,229 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

About Torchmark

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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