Zacks: Brokerages Anticipate Loews Corporation (L) to Announce $0.78 Earnings Per Share
Wall Street analysts predict that Loews Corporation (NYSE:L) will report earnings per share (EPS) of $0.78 for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Loews Corporation’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.70. Loews Corporation posted earnings of $0.97 per share during the same quarter last year, which suggests a negative year over year growth rate of 19.6%. The company is expected to announce its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that Loews Corporation will report full-year earnings of $3.05 per share for the current financial year, with EPS estimates ranging from $3.04 to $3.05. For the next financial year, analysts forecast that the business will post earnings of $3.13 per share, with EPS estimates ranging from $3.05 to $3.20. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Loews Corporation.
Loews Corporation (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $3.36 billion during the quarter. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. During the same period in the prior year, the company posted $0.59 earnings per share.
Several equities research analysts have recently commented on L shares. Zacks Investment Research lowered shares of Loews Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 19th. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $43.33.
Loews Corporation (L) traded up 0.26% on Wednesday, hitting $46.74. The stock had a trading volume of 112,504 shares. The company has a 50-day moving average of $47.98 and a 200 day moving average of $47.16. Loews Corporation has a 12 month low of $39.71 and a 12 month high of $49.58. The company has a market cap of $15.73 billion, a PE ratio of 13.81 and a beta of 0.71.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, August 28th. Loews Corporation’s dividend payout ratio (DPR) is currently 7.53%.
Hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Loews Corporation by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 951,643 shares of the insurance provider’s stock valued at $44,508,000 after buying an additional 29,676 shares during the period. Cedar Wealth Management LLC increased its stake in Loews Corporation by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock valued at $188,000 after buying an additional 190 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Loews Corporation by 3.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,980 shares of the insurance provider’s stock valued at $2,150,000 after buying an additional 1,621 shares during the period. Advisor Partners LLC increased its stake in Loews Corporation by 14.4% in the first quarter. Advisor Partners LLC now owns 5,330 shares of the insurance provider’s stock valued at $249,000 after buying an additional 669 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Loews Corporation by 12.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 24,273 shares of the insurance provider’s stock valued at $1,135,000 after buying an additional 2,691 shares during the period. Institutional investors own 58.61% of the company’s stock.
Loews Corporation Company Profile
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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