Zacks: Brokerages Expect Loews Corporation (NYSE:L) Will Announce Earnings of $0.94 Per Share
Equities research analysts forecast that Loews Corporation (NYSE:L) will report earnings per share (EPS) of $0.94 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Loews Corporation’s earnings. The lowest EPS estimate is $0.70 and the highest is $1.23. Loews Corporation posted earnings per share of $0.97 during the same quarter last year, which suggests a negative year over year growth rate of 3.1%. The company is scheduled to announce its next earnings report on Monday, October 30th.
On average, analysts expect that Loews Corporation will report full-year earnings of $3.08 per share for the current fiscal year. For the next financial year, analysts forecast that the company will report earnings of $3.14 per share, with EPS estimates ranging from $3.05 to $3.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Loews Corporation.
Loews Corporation (NYSE:L) last announced its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.76. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The firm had revenue of $3.36 billion for the quarter. During the same quarter in the previous year, the company earned $0.59 EPS.
Several brokerages have issued reports on L. Zacks Investment Research lowered shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $35.00 target price on shares of Loews Corporation in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $43.33.
A number of hedge funds and other institutional investors have recently modified their holdings of L. Teachers Advisors LLC increased its position in shares of Loews Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 378,606 shares of the insurance provider’s stock worth $17,730,000 after buying an additional 15,961 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Loews Corporation by 34.0% in the fourth quarter. Macquarie Group Ltd. now owns 20,900 shares of the insurance provider’s stock worth $979,000 after buying an additional 5,300 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Loews Corporation by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 245,761 shares of the insurance provider’s stock worth $11,495,000 after buying an additional 7,075 shares during the last quarter. Creative Planning increased its position in shares of Loews Corporation by 3.7% in the first quarter. Creative Planning now owns 5,672 shares of the insurance provider’s stock worth $265,000 after buying an additional 205 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of 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 worth $4,073,000 after buying an additional 1,020 shares during the last quarter. 58.85% of the stock is currently owned by institutional investors and hedge funds.
Loews Corporation (NYSE:L) opened at 48.27 on Friday. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 14.26 and a beta of 0.71. The firm’s 50 day moving average is $47.74 and its 200-day moving average is $47.08. Loews Corporation has a 12 month low of $39.71 and a 12 month high of $49.58.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, August 28th. Loews Corporation’s payout ratio is currently 7.53%.
About Loews Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Loews Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews Corporation and related companies with MarketBeat.com's FREE daily email newsletter.