Wall Street analysts predict that Loews Co. (NYSE:L) will post $0.93 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Loews’ earnings. The lowest EPS estimate is $0.84 and the highest is $1.01. Loews posted earnings per share of $0.46 in the same quarter last year, which would indicate a positive year-over-year growth rate of 102.2%. The business is scheduled to issue its next earnings results on Monday, October 29th.
On average, analysts expect that Loews will report full-year earnings of $3.40 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $4.05 per share, with EPS estimates ranging from $3.80 to $4.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Loews.
Loews (NYSE:L) last released its quarterly earnings data on Monday, July 30th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. Loews had a return on equity of 4.11% and a net margin of 8.15%. The business had revenue of $3.59 billion during the quarter. During the same quarter in the prior year, the firm earned $0.68 EPS.
L has been the subject of a number of analyst reports. Citigroup upgraded Loews from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $63.10 to $30.70 in a research report on Monday, May 14th. Zacks Investment Research lowered Loews from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Finally, Deutsche Bank boosted their price target on Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $53.68.
NYSE:L traded up $0.15 during midday trading on Friday, reaching $50.20. 63,829 shares of the company traded hands, compared to its average volume of 1,116,195. Loews has a twelve month low of $45.01 and a twelve month high of $53.59. The firm has a market capitalization of $15.85 billion, a P/E ratio of 17.54 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.35 and a quick ratio of 0.35.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 11th. Shareholders of record on Wednesday, August 29th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, August 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.50%. Loews’s dividend payout ratio (DPR) is presently 8.74%.
In other news, VP Marc A. Alpert sold 2,141 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $49.97, for a total value of $106,985.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC raised its position in shares of Loews by 39.1% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 50,558 shares of the insurance provider’s stock worth $2,514,000 after purchasing an additional 14,208 shares during the period. Pegasus Partners Ltd. acquired a new stake in shares of Loews during the first quarter worth $2,594,000. Natixis raised its position in shares of Loews by 50.4% during the first quarter. Natixis now owns 61,431 shares of the insurance provider’s stock worth $3,055,000 after purchasing an additional 20,585 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Loews by 3.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,704,167 shares of the insurance provider’s stock worth $283,668,000 after purchasing an additional 206,886 shares during the period. Finally, Korea Investment CORP raised its position in shares of Loews by 66.6% during the first quarter. Korea Investment CORP now owns 24,255 shares of the insurance provider’s stock worth $1,206,000 after purchasing an additional 9,696 shares during the period. 62.13% of the stock is currently owned by institutional investors.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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