Zacks Investment Research lowered shares of Loews Corporation (NYSE:L) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Shares of Loews have underperformed the industry year to date. The estimates were also revised down in the last 60 days. Weakening ultra-deepwater and deepwater markets might dampen Diamond Offshore results. Nonetheless, Loews Hotels remains on growth track as most properties witnessed a higher income. The Boardwalk unit is poised to capitalize on increasing exports of natural gas and pipeline exports to Mexico as well as industrial demand for natural gas and liquids. Addition of Consolidated Container will strengthen its network of manufacturing locations throughout the U.S. Market. With new drilling rigs that are contracted through 2019 and demand for oil growing, Loews remains optimistic over the medium and long term.”

Other equities analysts have also issued reports about the stock. BidaskClub raised shares of Loews Corporation from a sell rating to a hold rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a sell rating and issued a $35.00 target price on shares of Loews Corporation in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.00.

Shares of Loews Corporation (NYSE:L) traded down 0.06% during mid-day trading on Tuesday, reaching $48.87. 204,004 shares of the company traded hands. The firm has a 50 day moving average of $47.32 and a 200-day moving average of $47.19. The stock has a market capitalization of $16.45 billion, a PE ratio of 14.44 and a beta of 0.71. Loews Corporation has a 52 week low of $40.73 and a 52 week high of $49.58.

Loews Corporation (NYSE:L) last announced its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The company had revenue of $3.36 billion during the quarter. During the same period last year, the firm earned $0.59 EPS. On average, equities research analysts expect that Loews Corporation will post $3.05 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Wednesday, August 30th were paid a dividend of $0.0625 per share. The ex-dividend date was Monday, August 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio is 7.53%.

Several institutional investors have recently bought and sold shares of the company. Beacon Financial Group acquired a new position in shares of Loews Corporation during the 3rd quarter worth about $1,598,000. Sentry Investment Management LLC boosted its stake in shares of Loews Corporation by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 17,543 shares of the insurance provider’s stock worth $821,000 after buying an additional 187 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Loews Corporation by 25.5% during the 2nd quarter. Toronto Dominion Bank now owns 93,653 shares of the insurance provider’s stock worth $4,383,000 after buying an additional 19,019 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Loews Corporation during the 2nd quarter worth about $245,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Loews Corporation during the 2nd quarter worth about $613,000. Institutional investors own 58.58% of the company’s stock.

About Loews Corporation

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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