Analysts expect Loews Corporation (NYSE:L) to post earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Loews’ earnings, with estimates ranging from $0.69 to $0.75. Loews posted earnings of $0.79 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.9%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 5th.
According to Zacks, analysts expect that Loews will report full year earnings of $2.75 per share for the current financial year. For the next financial year, analysts anticipate that the company will post earnings of $3.05 per share, with EPS estimates ranging from $2.90 to $3.14. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Loews.
Loews (NYSE:L) last posted its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.44. Loews had a net margin of 7.04% and a return on equity of 4.08%. The company had revenue of $3.52 billion for the quarter. During the same quarter in the previous year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis.
Several equities research analysts recently commented on L shares. BidaskClub downgraded shares of Loews from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. ValuEngine downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of Loews from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd.
Loews (NYSE:L) traded down $0.15 on Friday, hitting $49.84. 1,124,800 shares of the stock were exchanged, compared to its average volume of 857,119. Loews has a one year low of $45.01 and a one year high of $51.02. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.46. The firm has a market cap of $16,780.00, a P/E ratio of 17.35 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s dividend payout ratio is presently 8.68%.
In other Loews news, insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the transaction, the insider now owns 2,169,075 shares in the company, valued at approximately $104,983,230. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David B. Edelson sold 5,809 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $50.25, for a total transaction of $291,902.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,420,223 shares of company stock worth $68,779,839. 11.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its holdings in Loews by 6.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 140 shares during the last quarter. Acrospire Investment Management LLC bought a new position in Loews during the 2nd quarter worth approximately $131,000. D.A. Davidson & CO. raised its holdings in Loews by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 27 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Loews by 25.4% in the 2nd quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 680 shares in the last quarter. Finally, Saratoga Research & Investment Management bought a new stake in shares of Loews in the 3rd quarter valued at $176,000. Hedge funds and other institutional investors own 59.39% of the company’s stock.
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Loews 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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