$0.96 EPS Expected for Loews Co. (L) This Quarter
Analysts expect that Loews Co. (NYSE:L) will announce earnings per share (EPS) of $0.96 for the current quarter, Zacks reports. Zero analysts have provided estimates for Loews’ earnings. Loews reported earnings per share of $0.89 in the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The company is expected to announce its next quarterly earnings report before the market opens on Monday, April 29th.
On average, analysts expect that Loews will report full-year earnings of $3.20 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will report earnings of $3.50 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Loews.
Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 11th. The insurance provider reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($1.06). The company had revenue of $3.29 billion for the quarter. Loews had a net margin of 4.52% and a return on equity of 4.16%. During the same quarter in the prior year, the firm posted $0.81 earnings per share.
In other news, Director Joseph L. Bower sold 812 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $47.56, for a total value of $38,618.72. Following the sale, the director now owns 10,886 shares in the company, valued at $517,738.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Tisch sold 4,585 shares of the company’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $46.84, for a total value of $214,761.40. Following the completion of the sale, the insider now owns 12,706 shares in the company, valued at approximately $595,149.04. The disclosure for this sale can be found here. Insiders sold 29,566 shares of company stock worth $1,390,479 in the last 90 days. Company insiders own 12.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Old North State Trust LLC boosted its position in shares of Loews by 1,452.6% during the first quarter. Old North State Trust LLC now owns 9,673 shares of the insurance provider’s stock worth $463,000 after buying an additional 9,050 shares during the period. Reinhart Partners Inc. increased its position in Loews by 2.9% in the 1st quarter. Reinhart Partners Inc. now owns 281,829 shares of the insurance provider’s stock valued at $13,508,000 after acquiring an additional 7,839 shares during the period. State of Alaska Department of Revenue increased its position in Loews by 11.8% in the 1st quarter. State of Alaska Department of Revenue now owns 71,094 shares of the insurance provider’s stock valued at $3,406,000 after acquiring an additional 7,485 shares during the period. Deutsche Bank AG boosted its holdings in Loews by 9.5% in the 4th quarter. Deutsche Bank AG now owns 640,497 shares of the insurance provider’s stock valued at $29,152,000 after purchasing an additional 55,315 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new stake in Loews in the 4th quarter valued at approximately $363,000. Institutional investors own 65.42% of the company’s stock.
Shares of L traded up $0.20 during trading hours on Thursday, hitting $48.88. The company had a trading volume of 15,041 shares, compared to its average volume of 967,816. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 17.23 and a beta of 0.66. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.53. Loews has a one year low of $42.06 and a one year high of $53.04.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. Loews’s payout ratio is 8.80%.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
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