Langen Mcalenn Weighs in on Loews Co.’s Q4 2018 Earnings (L)

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Loews Co. (NYSE:L) – Research analysts at Langen Mcalenn cut their Q4 2018 earnings estimates for shares of Loews in a note issued to investors on Tuesday, November 6th. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will earn $0.77 per share for the quarter, down from their prior estimate of $0.88. Langen Mcalenn also issued estimates for Loews’ Q1 2019 earnings at $0.97 EPS, Q2 2019 earnings at $0.93 EPS, Q4 2019 earnings at $1.04 EPS and FY2019 earnings at $3.90 EPS.

Separately, Deutsche Bank boosted their target price on Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Loews has a consensus rating of “Hold” and a consensus price target of $53.68.

L stock opened at $49.44 on Thursday. The company has a market cap of $15.64 billion, a P/E ratio of 17.29 and a beta of 0.68. Loews has a fifty-two week low of $44.78 and a fifty-two week high of $53.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.35.

Loews (NYSE:L) last posted its earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.10). The business had revenue of $3.61 billion for the quarter. Loews had a return on equity of 4.75% and a net margin of 8.94%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS.

Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC raised its stake in shares of Loews by 110.4% during the first quarter. LPL Financial LLC now owns 12,567 shares of the insurance provider’s stock worth $625,000 after purchasing an additional 6,594 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Loews by 7.6% during the second quarter. DnB Asset Management AS now owns 45,293 shares of the insurance provider’s stock worth $2,187,000 after purchasing an additional 3,200 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Loews by 44.6% during the second quarter. IFM Investors Pty Ltd now owns 12,703 shares of the insurance provider’s stock worth $613,000 after purchasing an additional 3,920 shares during the last quarter. Hexavest Inc. purchased a new stake in shares of Loews during the second quarter worth approximately $10,573,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Loews by 15.6% during the second quarter. State of Alaska Department of Revenue now owns 63,423 shares of the insurance provider’s stock worth $3,061,000 after purchasing an additional 8,560 shares during the last quarter. Institutional investors own 62.57% of the company’s stock.

In related news, Director Ann E. Berman sold 2,216 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total transaction of $109,182.32. Following the completion of the sale, the director now owns 1,500 shares in the company, valued at $73,905. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.30% of the stock is owned by insiders.

About Loews

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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Earnings History and Estimates for Loews (NYSE:L)

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