Loews Corporation (NYSE:L) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “Shares of Loews have underperformed the Zacks categorized Multi line industry, year to date. The company witnessed estimates moving south ahead of the earnings. Loews is set to report second-quarter results on Jul 31. As per our proven model a Zacks Rank #4 (Sell) combined with an Earnings ESP of -6.58% makes prediction difficult. Conditions remain tough for Diamond Offshore. Also lower rig utilization weigh on the results.  Nonetheless, Loews Hotels remains on growth track as most properties witnessed a higher income. The Boardwalk unit is poised to capitalize on increasing exports of natural gas and pipeline exports to Mexico as well as industrial demand for natural gas and liquids. Addition of Consolidated Container will strengthen its network of manufacturing locations throughout the U.S. Market. With new drilling rigs that are contracted through 2019 and demand for oil growing, Loews remains optimistic over the medium and long term.”

L has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “sell” rating and issued a $35.00 target price on shares of Loews Corporation in a research report on Tuesday, June 6th. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.33.

Shares of Loews Corporation (NYSE:L) traded up 0.04% during midday trading on Friday, reaching $46.95. 450,746 shares of the company’s stock were exchanged. The stock has a market cap of $15.81 billion, a PE ratio of 18.78 and a beta of 0.70. Loews Corporation has a 12 month low of $39.67 and a 12 month high of $48.39. The company’s 50 day moving average is $46.86 and its 200-day moving average is $46.86.

Loews Corporation (NYSE:L) last posted its quarterly earnings results on Monday, May 1st. The insurance provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.21. The business had revenue of $3.30 billion during the quarter. Loews Corporation had a return on equity of 4.67% and a net margin of 6.23%. During the same period last year, the firm earned $0.30 EPS. Equities analysts forecast that Loews Corporation will post $3.13 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Legacy Private Trust Co. boosted its stake in Loews Corporation by 4.6% in the first quarter. Legacy Private Trust Co. now owns 16,090 shares of the insurance provider’s stock valued at $753,000 after buying an additional 710 shares during the period. National Pension Service boosted its stake in Loews Corporation by 1.2% in the first quarter. National Pension Service now owns 264,414 shares of the insurance provider’s stock valued at $12,390,000 after buying an additional 3,138 shares during the period. Gulf International Bank UK Ltd boosted its stake in Loews Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 87,107 shares of the insurance provider’s stock valued at $4,073,000 after buying an additional 1,020 shares during the period. Creative Planning boosted its stake in Loews Corporation by 3.7% in the first quarter. Creative Planning now owns 5,672 shares of the insurance provider’s stock valued at $265,000 after buying an additional 205 shares during the period. Finally, Denali Advisors LLC purchased a new stake in Loews Corporation during the first quarter valued at $2,787,000. Institutional investors own 58.53% of the company’s stock.

Loews Corporation Company Profile

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

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