Loews Corporation (L) Announces Earnings Results
Loews Corporation (NYSE:L) posted its quarterly earnings results on Monday. The insurance provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.44, RTT News reports. Loews Corporation had a net margin of 8.44% and a return on equity of 4.84%. The firm had revenue of $3.52 billion for the quarter. During the same quarter in the prior year, the firm earned $0.89 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis.
Shares of Loews Corporation (NYSE L) opened at 47.95 on Monday. The stock has a 50 day moving average of $48.11 and a 200 day moving average of $47.42. Loews Corporation has a 52 week low of $40.86 and a 52 week high of $49.58. The firm has a market cap of $16.14 billion, a P/E ratio of 14.17 and a beta of 0.71.
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L has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, ValuEngine downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Loews Corporation presently has a consensus rating of “Hold” and a consensus price target of $39.00.
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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