Loews (NYSE:L) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “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. However, weakening ultra-deepwater and deepwater markets might dampen Diamond Offshore results. Shares of Loews have underperformed the industry year to date. The company witnessed its 2017 estimates moving north while the same for 2018 moved south.”
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. BidaskClub lowered shares of Loews from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th.
Loews (L) traded down $0.42 during midday trading on Tuesday, reaching $49.90. 975,800 shares of the company’s stock traded hands, compared to its average volume of 861,446. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35. Loews has a 1 year low of $45.01 and a 1 year high of $51.02. The company has a market capitalization of $16,939.28, a price-to-earnings ratio of 17.47 and a beta of 0.74.
Loews (NYSE:L) last posted its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.44. Loews had a net margin of 7.04% and a return on equity of 4.08%. The firm had revenue of $3.52 billion for the quarter. During the same period last year, the company posted $0.89 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts expect that Loews will post 2.75 EPS for the current fiscal year.
In other news, SVP Richard Waldo Scott sold 6,471 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $49.80, for a total value of $322,255.80. Following the sale, the senior vice president now directly owns 11,250 shares in the company, valued at approximately $560,250. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the insider now owns 2,169,075 shares in the company, valued at $104,983,230. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,420,223 shares of company stock worth $68,779,839. 11.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Loews by 6.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 140 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Loews in the 2nd quarter valued at $131,000. D.A. Davidson & CO. increased its stake in shares of Loews by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 27 shares in 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. Institutional investors and hedge funds 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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