Analysts Expect Torchmark Co. (TMK) Will Post Quarterly Sales of $1.11 Billion
Analysts expect Torchmark Co. (NYSE:TMK) to post $1.11 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Torchmark’s earnings. Torchmark posted sales of $1.07 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The business is expected to announce its next earnings results after the market closes on Wednesday, April 17th.
On average, analysts expect that Torchmark will report full-year sales of $4.46 billion for the current fiscal year, with estimates ranging from $4.42 billion to $4.49 billion. For the next year, analysts expect that the firm will post sales of $4.61 billion, with estimates ranging from $4.57 billion to $4.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Torchmark.
Torchmark (NYSE:TMK) last issued its earnings results on Tuesday, February 5th. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.56. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. Torchmark had a return on equity of 12.66% and a net margin of 16.32%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS.
In other news, insider Kenneth J. Matson sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $81.16, for a total transaction of $649,280.00. Following the completion of the transaction, the insider now directly owns 25,434 shares in the company, valued at approximately $2,064,223.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary L. Coleman sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $83.60, for a total value of $1,003,200.00. Following the transaction, the chief executive officer now owns 661,547 shares of the company’s stock, valued at $55,305,329.20. The disclosure for this sale can be found here. Insiders sold a total of 92,010 shares of company stock valued at $7,612,561 over the last 90 days. 3.64% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. raised its holdings in Torchmark by 7.1% during the 4th quarter. Oakworth Capital Inc. now owns 26,832 shares of the insurance provider’s stock valued at $2,000,000 after buying an additional 1,786 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its holdings in Torchmark by 20.0% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 51,994 shares of the insurance provider’s stock valued at $4,261,000 after buying an additional 8,650 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Torchmark during the 4th quarter valued at $1,143,000. Fox Run Management L.L.C. purchased a new stake in Torchmark during the 4th quarter valued at $642,000. Finally, Public Employees Retirement System of Ohio increased its stake in Torchmark by 33.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 90,296 shares of the insurance provider’s stock worth $6,730,000 after purchasing an additional 22,382 shares during the period. Institutional investors own 76.65% of the company’s stock.
Shares of TMK traded up $0.86 during trading hours on Friday, hitting $85.08. The company had a trading volume of 173,325 shares, compared to its average volume of 520,617. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $9.41 billion, a PE ratio of 13.88, a P/E/G ratio of 1.72 and a beta of 1.00. Torchmark has a 52-week low of $69.68 and a 52-week high of $89.62.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 0.81%. This is an increase from Torchmark’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, April 4th. Torchmark’s dividend payout ratio is presently 11.26%.
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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