Loews Corporation (L) to Post FY2018 Earnings of $3.10 Per Share, Langen Mcalenn Forecasts
Loews Corporation (NYSE:L) – Investment analysts at Langen Mcalenn lowered their FY2018 earnings per share estimates for Loews Corporation in a note issued to investors on Tuesday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings per share of $3.10 for the year, down from their prior forecast of $3.15.
Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Loews Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. BidaskClub raised Loews Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine cut Loews Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.00.
Loews Corporation (NYSE:L) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.02 by $0.44. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The company had revenue of $3.52 billion for the quarter. During the same quarter in the previous year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in Loews Corporation by 6.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 140 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Loews Corporation during the 2nd quarter valued at approximately $131,000. D.A. Davidson & CO. boosted its position in Loews Corporation by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 27 shares in the last quarter. Parallel Advisors LLC boosted its position in Loews Corporation by 25.4% during the 2nd quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 680 shares in the last quarter. Finally, Saratoga Research & Investment Management bought a new stake in Loews Corporation during the 3rd quarter valued at approximately $176,000. 58.76% of the stock is currently owned by institutional investors and hedge funds.
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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