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Torchmark: What’s Not To Like?

January 14th, 2019 · No Comments

  • The shares have sold off on worries about the company’s exposure to a deteriorating credit environment and a decline in union membership, but we think these worries are overdone.
  • The company really is a steady grower, with above average margins and lots of free cash flow.
  • The excess cash flow is used mostly for buybacks which have reduced the share count materially and produces double-digit EPS growth. We see no reason why this won’t continue.
  • Given these advantages, we see the shares as really quite really quite reasonably priced.

Source: Torchmark: What’s Not To Like? – Torchmark Corporation (NYSE:TMK) | Seeking Alpha

Tags: TMK