$0.93 Earnings Per Share Expected for Loews Co. (L) This Quarter
Analysts expect that Loews Co. (NYSE:L) will post earnings per share (EPS) of $0.93 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Loews’ earnings. The lowest EPS estimate is $0.84 and the highest is $1.01. Loews posted earnings per share of $0.46 during the same quarter last year, which would indicate a positive year-over-year growth rate of 102.2%. The company is expected to announce its next earnings report on Monday, October 29th.
On average, analysts expect that Loews will report full-year earnings of $3.40 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $4.05 per share, with EPS estimates ranging from $3.80 to $4.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Loews.
Loews (NYSE:L) last released its earnings results on Monday, July 30th. The insurance provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Loews had a net margin of 8.15% and a return on equity of 4.11%. The company had revenue of $3.59 billion for the quarter. During the same quarter in the previous year, the business posted $0.68 EPS.
NYSE L opened at $52.16 on Friday. Loews has a 12 month low of $45.52 and a 12 month high of $53.59. The company has a market cap of $16.37 billion, a price-to-earnings ratio of 18.24 and a beta of 0.67. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 11th. Stockholders of record on Wednesday, August 29th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, August 28th. Loews’s payout ratio is currently 8.74%.
In related news, VP Marc A. Alpert sold 2,141 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $49.97, for a total value of $106,985.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Greenwood Gearhart Inc. boosted its stake in Loews by 0.5% during the second quarter. Greenwood Gearhart Inc. now owns 189,468 shares of the insurance provider’s stock worth $9,148,000 after buying an additional 1,034 shares during the period. Elgethun Capital Management boosted its stake in Loews by 0.9% during the first quarter. Elgethun Capital Management now owns 120,105 shares of the insurance provider’s stock worth $5,973,000 after buying an additional 1,035 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Loews by 5.9% during the second quarter. Oppenheimer & Co. Inc. now owns 18,935 shares of the insurance provider’s stock worth $914,000 after buying an additional 1,050 shares during the period. Foundation Resource Management Inc. boosted its stake in Loews by 0.6% during the second quarter. Foundation Resource Management Inc. now owns 168,025 shares of the insurance provider’s stock worth $8,112,000 after buying an additional 1,084 shares during the period. Finally, Dupont Capital Management Corp boosted its stake in Loews by 57.9% during the second quarter. Dupont Capital Management Corp now owns 3,042 shares of the insurance provider’s stock worth $147,000 after buying an additional 1,116 shares during the period. 62.42% of the stock is owned by hedge funds and other institutional investors.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
See Also: Hedge Funds
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