Lorillard (LO) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Lorillard (NYSE:LO) announced its earnings results on Thursday. The company reported $0.69 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.72 by $0.03, American Banking News reports. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.19 billion.
Lorillard (NYSE:LO) traded up 1.13% during mid-day trading on Thursday, hitting $54.255. 657,084 shares of the company’s stock traded hands. Lorillard has a one year low of $41.56 and a one year high of $56.85. The stock has a 50-day moving average of $52.91 and a 200-day moving average of $50.57. The company has a market cap of $19.651 billion and a P/E ratio of 17.03.
A number of analysts have recently weighed in on LO shares. Analysts at Nomura initiated coverage on shares of Lorillard in a research note on Wednesday, April 9th. They set a “reduce” rating and a $54.00 price target on the stock. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Lorillard in a research note on Monday, March 31st. They now have a $56.00 price target on the stock. Finally, analysts at Goldman Sachs upgraded shares of Lorillard from a “neutral” rating to a “buy” rating in a research note on Monday, March 17th. They now have a $60.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $53.11.
Lorillard, Inc (NYSE:LO) is the manufacturer of cigarettes in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.