Lorillard Target of Unusually High Options Trading (LO)
Lorillard (NYSE:LO) was the target of unusually large options trading on Tuesday. Stock traders acquired 13,371 call options on the company, AnalystRatingsNetwork reports. This represents an increase of 849% compared to the typical volume of 1,409 call options.
LO has been the subject of a number of recent research reports. 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. Separately, 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 assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.88.
Shares of Lorillard (NYSE:LO) traded down 1.22% on Tuesday, hitting $59.67. 5,802,848 shares of the company’s stock traded hands. Lorillard has a 52-week low of $41.90 and a 52-week high of $67.46. The stock has a 50-day moving average of $61.23 and a 200-day moving average of $57.14. The company has a market cap of $21.482 billion and a price-to-earnings ratio of 19.96.
Lorillard (NYSE:LO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Analysts expect that Lorillard will post $3.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Monday, September 1st will be paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Wednesday, August 27th.
Lorillard, Inc (NYSE:LO) is the manufacturer of cigarettes in the United States.
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