Q3 2016 Earnings Forecast for Leucadia National Corp. (LUK) Issued By Oppenheimer Holdings
Leucadia National Corp. (NYSE:LUK) – Analysts at Oppenheimer Holdings reduced their Q3 2016 EPS estimates for shares of Leucadia National Corp. in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst C. Kotowski now expects that the brokerage will earn $0.32 per share for the quarter, down from their previous forecast of $0.35. Oppenheimer Holdings has a “Outperform” rating and a $23.00 price target on the stock. Oppenheimer Holdings also issued estimates for Leucadia National Corp.’s Q4 2016 earnings at $0.25 EPS and FY2016 earnings at $0.13 EPS.
Leucadia National Corp. (NYSE:LUK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.25 by $0.10. Leucadia National Corp. had a negative net margin of 2.95% and a negative return on equity of 2.61%.
LUK has been the subject of several other reports. Zacks Investment Research upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Friday, June 24th. TheStreet upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th.
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Shares of Leucadia National Corp. (NYSE:LUK) traded down 0.73% during trading on Thursday, hitting $19.01. The stock had a trading volume of 421,195 shares. Leucadia National Corp. has a 12 month low of $14.27 and a 12 month high of $21.29. The company’s 50 day moving average price is $18.89 and its 200 day moving average price is $17.46. The stock’s market cap is $6.85 billion.
A number of hedge funds have recently modified their holdings of LUK. Vanguard Group Inc. boosted its stake in shares of Leucadia National Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 28,722,993 shares of the company’s stock valued at $497,768,000 after buying an additional 668,282 shares during the last quarter. First Pacific Advisors LLC raised its position in shares of Leucadia National Corp. by 7.7% in the second quarter. First Pacific Advisors LLC now owns 22,520,090 shares of the company’s stock valued at $390,273,000 after buying an additional 1,617,090 shares during the period. State Street Corp raised its position in shares of Leucadia National Corp. by 0.4% in the first quarter. State Street Corp now owns 13,268,596 shares of the company’s stock valued at $214,564,000 after buying an additional 55,928 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Leucadia National Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,471,633 shares of the company’s stock valued at $136,986,000 after buying an additional 22,742 shares during the period. Finally, Scopia Capital Management LP acquired a new position in shares of Leucadia National Corp. during the first quarter valued at approximately $106,120,000. Institutional investors own 73.14% of the company’s stock.
In related news, Director W Patrick Campbell bought 56,737 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was bought at an average cost of $17.15 per share, for a total transaction of $973,039.55. Following the acquisition, the director now directly owns 107,920 shares in the company, valued at $1,850,828. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joseph S. Steinberg sold 200,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $19.04, for a total value of $3,808,000.00. Following the completion of the sale, the chairman now owns 1,992,687 shares of the company’s stock, valued at $37,940,760.48. The disclosure for this sale can be found here. 9.50% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, September 15th. Leucadia National Corp.’s payout ratio is currently -32.47%.
About Leucadia National Corp.
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded company providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance).
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