Zacks Investment Research Upgrades Leucadia National Corporation (LUK) to “Hold”
Leucadia National Corporation (NYSE:LUK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Leucadia recorded an improved performance in the debt capital market in second-quarter 2017, along with a solid contribution from equity capital markets, advisory activities and a favorable sales and trading environment. With significant margin contribution from National Beef and other businesses, Leucadia remains well positioned to grow. The company’s businesses have separate revenue streams that move according to their own cycle and mitigate operating risks. The company also outperformed the industry year to date. However, high network maintenance costs to prevent any intrusion and data theft of confidential and sensitive client information strain margins and remain significant headwinds for the company. In addition, diffused business focus and lack of clarity in strategic goals and priorities make it susceptible to high operating risks and lower its profitability to some extent.”
LUK has been the subject of a number of other reports. BidaskClub downgraded Leucadia National Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. TheStreet upgraded Leucadia National Corporation from a “c” rating to a “b” rating in a research report on Friday, May 5th.
Shares of Leucadia National Corporation (LUK) remained flat at $23.98 during midday trading on Tuesday. 67,474 shares of the company traded hands. The company has a market cap of $8.60 billion, a PE ratio of 14.21 and a beta of 1.25. The company’s 50-day moving average price is $26.01 and its 200 day moving average price is $25.69. Leucadia National Corporation has a 12 month low of $17.87 and a 12 month high of $27.33.
Leucadia National Corporation (NYSE:LUK) last released its earnings results on Thursday, July 27th. The conglomerate reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.65 billion. Leucadia National Corporation had a net margin of 5.94% and a return on equity of 6.27%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. Equities research analysts expect that Leucadia National Corporation will post $1.29 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in LUK. Prudential Financial Inc. increased its stake in Leucadia National Corporation by 175.4% in the first quarter. Prudential Financial Inc. now owns 1,976,039 shares of the conglomerate’s stock worth $51,377,000 after buying an additional 1,258,470 shares during the last quarter. Shell Asset Management Co. increased its stake in Leucadia National Corporation by 9.2% in the first quarter. Shell Asset Management Co. now owns 21,005 shares of the conglomerate’s stock worth $546,000 after buying an additional 1,778 shares during the last quarter. Clearbridge Investments LLC increased its stake in Leucadia National Corporation by 23.1% in the first quarter. Clearbridge Investments LLC now owns 32,000 shares of the conglomerate’s stock worth $832,000 after buying an additional 6,000 shares during the last quarter. Teza Capital Management LLC bought a new stake in Leucadia National Corporation during the first quarter worth $350,000. Finally, Jane Street Group LLC bought a new stake in Leucadia National Corporation during the first quarter worth $789,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.
About Leucadia National Corporation
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Leucadia National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leucadia National Corporation and related companies with MarketBeat.com's FREE daily email newsletter.