B. Riley Weighs in on Lincoln National Co.’s FY2018 Earnings (LNC)
Lincoln National Co. (NYSE:LNC) – Investment analysts at B. Riley boosted their FY2018 earnings estimates for shares of Lincoln National in a report issued on Monday. B. Riley analyst R. Binner now forecasts that the financial services provider will earn $7.80 per share for the year, up from their prior estimate of $7.65. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for Lincoln National’s FY2019 earnings at $8.30 EPS.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.19. Lincoln National had a net margin of 10.50% and a return on equity of 11.16%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue was down .4% on a year-over-year basis.
A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Lincoln National from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Citigroup reissued a “buy” rating and set a $83.00 price objective (up previously from $82.00) on shares of Lincoln National in a report on Thursday, September 14th. Morgan Stanley increased their price objective on shares of Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, Wells Fargo & Company set a $80.00 price objective on shares of Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Lincoln National currently has an average rating of “Hold” and an average target price of $78.40.
Shares of Lincoln National (NYSE:LNC) traded down $1.59 during trading hours on Tuesday, reaching $75.91. 1,418,400 shares of the company’s stock were exchanged, compared to its average volume of 1,479,213. Lincoln National has a 12-month low of $61.45 and a 12-month high of $78.44. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $16,959.28, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.16 and a beta of 2.01.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Lincoln National by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after acquiring an additional 764,714 shares during the period. BlackRock Inc. raised its position in shares of Lincoln National by 1.9% in the 2nd quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after acquiring an additional 355,633 shares during the period. FMR LLC raised its position in shares of Lincoln National by 1.3% in the 2nd quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after acquiring an additional 95,605 shares during the period. LSV Asset Management raised its position in shares of Lincoln National by 3.8% in the 2nd quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after acquiring an additional 187,800 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Lincoln National by 32.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after acquiring an additional 857,436 shares during the period. Institutional investors own 80.44% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, January 9th. This is an increase from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. Lincoln National’s dividend payout ratio is presently 18.15%.
About Lincoln National
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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