Lorillard Inc. (LO) Declares Quarterly Dividend of $0.62
Lorillard (NYSE:LO) declared a quarterly dividend on Friday, August 15th, AnalystRatings.NET reports. Shareholders of record on Monday, September 1st will be given a dividend of 0.615 per share on Wednesday, September 10th. This represents a $2.46 dividend on an annualized basis and a yield of 4.06%.
A number of analysts have recently weighed in on LO shares. Analysts at Morgan Stanley upgraded shares of Lorillard from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, August 5th. They now have a $65.00 price target on the stock, up previously from $57.00. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Lorillard in a research note on Friday, August 1st. They now have a $64.00 price target on the stock. Finally, analysts at Nomura upgraded shares of Lorillard from a “reduce” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $64.00 price target on the stock, up previously from $54.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.88.
Shares of Lorillard (NYSE:LO) opened at 60.63 on Friday. Lorillard has a 52 week low of $41.56 and a 52 week high of $67.46. The stock has a 50-day moving average of $61.46 and a 200-day moving average of $56.44. The company has a market cap of $21.828 billion and a price-to-earnings ratio of 20.04.
Lorillard (NYSE:LO) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.84 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.89 by $0.05. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.81 earnings per share. Lorillard’s revenue was up .7% compared to the same quarter last year. Analysts expect that Lorillard will post $3.38 EPS for the current fiscal year.
Lorillard, Inc (NYSE:LO) is the manufacturer of cigarettes in the United States.
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