Oppenheimer Holdings Analysts Raise Earnings Estimates for Leucadia National Corp. (LUK)
Leucadia National Corp. (NYSE:LUK) – Oppenheimer Holdings raised their FY2016 EPS estimates for Leucadia National Corp. in a report released on Wednesday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the firm will post earnings of $0.20 per share for the year, up from their previous forecast of $0.13. Oppenheimer Holdings currently has a “Outperform” rating and a $23.00 target price on the stock.
Several other brokerages have also recently weighed in on LUK. Zacks Investment Research upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. TheStreet upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th.
Leucadia National Corp. (NYSE:LUK) traded down 0.26% during midday trading on Friday, hitting $19.50. The stock had a trading volume of 1,170,838 shares. Leucadia National Corp. has a 1-year low of $14.27 and a 1-year high of $21.29. The company’s market cap is $7.03 billion. The company’s 50 day moving average is $18.96 and its 200 day moving average is $17.73.
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Leucadia National Corp. (NYSE:LUK) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.15 earnings per share 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%.
A number of institutional investors have recently added to or reduced their stakes in LUK. Aperio Group LLC raised its position in Leucadia National Corp. by 20.1% in the first quarter. Aperio Group LLC now owns 107,624 shares of the company’s stock valued at $1,740,000 after buying an additional 18,032 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in Leucadia National Corp. by 7.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 123,019 shares of the company’s stock valued at $1,989,000 after buying an additional 8,200 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Leucadia National Corp. by 4.3% in the first quarter. TIAA CREF Investment Management LLC now owns 917,378 shares of the company’s stock valued at $14,834,000 after buying an additional 38,117 shares during the last quarter. Teachers Advisors Inc. raised its position in Leucadia National Corp. by 3.5% in the first quarter. Teachers Advisors Inc. now owns 334,040 shares of the company’s stock valued at $5,401,000 after buying an additional 11,341 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Leucadia National Corp. by 79.0% in the first quarter. Prudential Financial Inc. now owns 711,738 shares of the company’s stock valued at $11,509,000 after buying an additional 314,100 shares during the last quarter. Institutional investors and hedge funds own 73.14% of the company’s stock.
In related news, Chairman Joseph S. Steinberg sold 200,000 shares of the business’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 transaction, the chairman now owns 1,992,687 shares in the company, valued at $37,940,760.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. 9.50% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a $0.0625 dividend. The ex-dividend date was Thursday, September 15th. This represents a $0.25 annualized dividend and a yield of 1.28%. Leucadia National Corp.’s payout ratio is -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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