Loews Corp. Hits New 52-Week High at $48.05 (L)
Loews Corp. (NYSE:L)’s share price reached a new 52-week high during mid-day trading on Thursday, AmericanBankingNews.com reports. The stock traded as high as $48.05 and last traded at $48.02, with a volume of 949,590 shares traded. The stock had previously closed at $46.49.
L has been the subject of a number of recent research reports. Analysts at Deutsche Bank initiated coverage on shares of Loews Corp. 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. 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. 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 $47.94. The stock’s 50-day moving average is $46.20 and its 200-day moving average is $45.41. The company has a market cap of $18.642 billion and a price-to-earnings ratio of 27.79.
Loews Corp. (NYSE:L) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.69 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.14 earnings per share. Loews Corp.’s revenue was up 11.0% compared to the same quarter last year. 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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