$0.80 EPS Expected for Loews Corporation (L) This Quarter
Equities analysts expect Loews Corporation (NYSE:L) to report earnings of $0.80 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Loews’ earnings. Loews posted earnings per share of $0.79 during the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The company is expected to issue its next earnings results on Monday, February 5th.
On average, analysts expect that Loews will report full-year earnings of $2.80 per share for the current year. For the next year, analysts expect that the business will post earnings of $3.30 per share, with EPS estimates ranging from $3.10 to $3.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Loews.
Loews (NYSE:L) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.44. Loews had a net margin of 7.04% and a return on equity of 4.08%. The company had revenue of $3.52 billion during the quarter. During the same period in the previous year, the company earned $0.89 earnings per share. Loews’s quarterly revenue was up 7.1% on a year-over-year basis.
In related news, SVP Richard Waldo Scott sold 6,471 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $49.80, for a total value of $322,255.80. Following the sale, the senior vice president now owns 11,250 shares in the company, valued at $560,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the sale, the insider now owns 2,169,075 shares in the company, valued at approximately $104,983,230. The disclosure for this sale can be found here. Insiders sold 1,422,163 shares of company stock worth $68,876,567 in the last 90 days. 11.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in L. Janus Henderson Group PLC raised its position in Loews by 4,046.2% in the second quarter. Janus Henderson Group PLC now owns 1,657,777 shares of the insurance provider’s stock worth $77,601,000 after acquiring an additional 1,617,794 shares during the period. Wells Fargo & Company MN raised its position in Loews by 15.9% in the third quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock worth $241,132,000 after acquiring an additional 689,401 shares during the period. St. James Investment Company LLC bought a new position in Loews in the third quarter worth approximately $29,452,000. Thrivent Financial For Lutherans raised its position in Loews by 4,388.1% in the second quarter. Thrivent Financial For Lutherans now owns 454,642 shares of the insurance provider’s stock worth $21,282,000 after acquiring an additional 444,512 shares during the period. Finally, PGGM Investments raised its position in Loews by 188.9% in the third quarter. PGGM Investments now owns 677,650 shares of the insurance provider’s stock worth $32,432,000 after acquiring an additional 443,056 shares during the period. Institutional investors and hedge funds own 59.26% of the company’s stock.
Loews (NYSE:L) traded down $0.10 during mid-day trading on Friday, reaching $50.62. 1,041,700 shares of the company were exchanged, compared to its average volume of 1,000,000. Loews has a 12 month low of $45.01 and a 12 month high of $51.02. The company has a market capitalization of $17,040.00, a P/E ratio of 17.58 and a beta of 0.74. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.46.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, November 28th. Loews’s dividend payout ratio is currently 8.68%.
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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