Lincoln National Corp. Rating Increased to Outperform at Zacks (LNC)
Lincoln National Corp. (NYSE:LNC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Friday, Stock Ratings Network.com reports. The firm currently has a $53.00 price objective on the stock. Zacks‘ target price points to a potential upside of 19.69% from the stock’s previous close.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 0.34% during mid-day trading on Friday, hitting $44.43. 1,514,725 shares of the company’s stock traded hands. Lincoln National Corp. has a 52-week low of $22.51 and a 52-week high of $45.17. The stock has a 50-day moving average of $43.19 and a 200-day moving average of $36.64. The company has a market cap of $11.751 billion and a price-to-earnings ratio of 9.48.
Lincoln National Corp. (NYSE:LNC) last announced its earnings results on Wednesday, July 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.01. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital upgraded shares of Lincoln National Corp. (NYSE:LNC) from an “underweight” rating to an “equal weight” rating in a research note to investors on Wednesday, September 4th. They now have a $48.00 price target on the stock, up previously from $37.00. Separately, analysts at FBR Capital Markets raised their price target on shares of Lincoln National Corp. (NYSE:LNC) from $45.00 to $50.00 in a research note to investors on Friday, August 16th. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Lincoln National Corp. (NYSE:LNC) from $45.00 to $50.00 in a research note to investors on Wednesday, August 7th.
One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.42.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, October 8th.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
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