Lincoln National Corporation (LNC) Releases Earnings Results, Beats Estimates By $0.19 EPS
Lincoln National Corporation (NYSE:LNC) released its quarterly earnings results on Wednesday. The financial services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.19, Bloomberg Earnings reports. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.62 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. Lincoln National Corporation’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.74%. This is an increase from Lincoln National Corporation’s previous quarterly dividend of $0.29. Lincoln National Corporation’s dividend payout ratio (DPR) is 17.79%.
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A number of research analysts have recently weighed in on LNC shares. Zacks Investment Research downgraded shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Citigroup Inc. restated a “buy” rating and set a $83.00 price target (up previously from $82.00) on shares of Lincoln National Corporation in a report on Thursday, September 14th. Morgan Stanley raised their price target on shares of Lincoln National Corporation from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, BidaskClub downgraded shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $76.50.
Lincoln National Corporation Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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