Loews Corp. Reaches New 12-Month High at $47.79 (L)
Loews Corp. (NYSE:L)’s share price reached a new 52-week high on Thursday, American Banking News reports. The company traded as high as $47.79 and last traded at $47.76, with a volume of 335,704 shares traded. The stock had previously closed at $47.42.
L has been the subject of a number of recent research reports. Analysts at Deutsche Bank initiated coverage on shares of Loews Corp. (NYSE:L) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $52.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Loews Corp. (NYSE:L) in a research note to investors on Friday, August 30th. They now have a $47.00 price target on the stock. Finally, analysts at CIBC reiterated a “hold” rating on shares of Loews Corp. (NYSE:L) in a research note to investors on Wednesday, August 21st. They now have a $53.00 price target on the stock.
Loews Corp. has a one year low of $39.57 and a one year high of $47.71. The stock’s 50-day moving average is $45.91 and its 200-day moving average is $45.07. The company has a market cap of $18.436 billion and a price-to-earnings ratio of 28.34.
Loews Corp. (NYSE:L) last announced its earnings results on Monday, July 29th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.11. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts expect that Loews Corp. will post $2.85 EPS for the current fiscal year.
Loews Corporation is a holding company. Its subsidiaries are engaged in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, exploration, production and marketing of natural gas and oil (NYSE:L), interstate transportation and storage of natural gas and operation of hotels.
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