Leucadia National Corp. to Post Q3 2018 Earnings of $0.55 Per Share, Oppenheimer Forecasts (LUK)
Leucadia National Corp. (NYSE:LUK) – Oppenheimer upped their Q3 2018 earnings estimates for Leucadia National in a research report issued on Tuesday. Oppenheimer analyst C. Kotowski now forecasts that the conglomerate will post earnings of $0.55 per share for the quarter, up from their prior forecast of $0.54. Oppenheimer also issued estimates for Leucadia National’s FY2019 earnings at $1.95 EPS.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Leucadia National from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, February 1st. TheStreet cut Leucadia National from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd.
Leucadia National (NYSE:LUK) last released its earnings results on Thursday, February 22nd. The conglomerate reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Leucadia National had a return on equity of 6.25% and a net margin of 1.81%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Leucadia National by 1.9% in the fourth quarter. BlackRock Inc. now owns 21,188,997 shares of the conglomerate’s stock worth $561,297,000 after purchasing an additional 392,250 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Leucadia National by 2.6% in the third quarter. Great West Life Assurance Co. Can now owns 5,439,841 shares of the conglomerate’s stock worth $136,360,000 after purchasing an additional 139,293 shares in the last quarter. Geode Capital Management LLC grew its stake in Leucadia National by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 4,681,821 shares of the conglomerate’s stock worth $123,835,000 after purchasing an additional 127,716 shares in the last quarter. Schroder Investment Management Group grew its stake in Leucadia National by 2.3% in the fourth quarter. Schroder Investment Management Group now owns 3,605,228 shares of the conglomerate’s stock worth $95,503,000 after purchasing an additional 80,477 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in Leucadia National by 0.8% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,978,872 shares of the conglomerate’s stock worth $78,910,000 after purchasing an additional 24,318 shares in the last quarter. 75.41% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.40 annualized dividend and a yield of 1.79%. Leucadia National’s dividend payout ratio (DPR) is currently 90.91%.
About Leucadia National
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
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