LINE (LN) Rating Lowered to Underperform at Jefferies Group

LINE (NYSE:LN) was downgraded by stock analysts at Jefferies Group from a “hold” rating to an “underperform” rating in a report released on Thursday, MarketBeat Ratings reports. Jefferies Group also issued estimates for LINE’s FY2020 earnings at $0.19 EPS.

LN has been the subject of a number of other research reports. Zacks Investment Research cut LINE from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. Mizuho cut LINE from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 31st. Finally, CLSA upgraded LINE from a “sell” rating to an “underperform” rating in a report on Thursday, January 11th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.00.

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Shares of LINE stock opened at $38.05 on Thursday. The company has a market capitalization of $9,137.85, a PE ratio of 126.83, a P/E/G ratio of 2.58 and a beta of 1.41. LINE has a one year low of $32.69 and a one year high of $47.81.

Hedge funds have recently modified their holdings of the stock. Financial Gravity Companies Inc. bought a new stake in shares of LINE during the 4th quarter worth approximately $113,000. Greenleaf Trust bought a new stake in shares of LINE during the 4th quarter worth approximately $206,000. Liberty Mutual Group Asset Management Inc. bought a new stake in shares of LINE during the 4th quarter worth approximately $221,000. First Trust Advisors LP bought a new stake in shares of LINE during the 4th quarter worth approximately $257,000. Finally, FNY Partners Fund LP bought a new stake in shares of LINE during the 4th quarter worth approximately $553,000. 3.23% of the stock is owned by hedge funds and other institutional investors.

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LINE Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, and voice and video calls, as well as serves as a smart portal to its other applications and services.

Analyst Recommendations for LINE (NYSE:LN)

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