Lincoln National Corp. Upgraded to “Overweight” at Barclays (LNC)
Lincoln National Corp. (NYSE:LNC) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, American Banking & Market News reports. The firm currently has a $59.00 price target on the stock, up from their previous price target of $55.00. Barclays’ target price would indicate a potential upside of 25.32% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 1.89% during mid-day trading on Wednesday, hitting $47.32. The stock had a trading volume of 1,015,579 shares. Lincoln National Corp. has a one year low of $30.69 and a one year high of $53.26. The stock’s 50-day moving average is $50.29 and its 200-day moving average is $48.97. The company has a market cap of $12.478 billion and a price-to-earnings ratio of 10.27. Lincoln National Corp. also was the target of some unusual options trading activity on Monday. Investors acquired 5,503 put options on the stock. This is an increase of approximately 616% compared to the average volume of 769 put options.
Lincoln National Corp. (NYSE:LNC) last announced its earnings results on Tuesday, February 4th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that Lincoln National Corp. will post $5.40 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Raymond James upgraded shares of Lincoln National Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Monday. They now have a $56.00 price target on the stock, up previously from $54.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Lincoln National Corp. in a research note on Friday, February 7th. They now have a $50.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Lincoln National Corp. from $47.00 to $53.00 in a research note on Friday, February 7th. They now have a “sector perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Lincoln National Corp. currently has a consensus rating of “Hold” and a consensus price target of $47.16.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
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