Loews Corporation to Post Q4 2017 Earnings of $0.64 Per Share, Langen Mcalenn Forecasts (L)

Loews Corporation (NYSE:L) – Langen Mcalenn issued their Q4 2017 earnings per share estimates for Loews in a note issued to investors on Tuesday. Langen Mcalenn analyst R. Glasspiegel expects that the insurance provider will earn $0.64 per share for the quarter. Langen Mcalenn also issued estimates for Loews’ FY2018 earnings at $3.30 EPS.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.44. Loews had a return on equity of 4.08% and a net margin of 7.04%. The firm had revenue of $3.52 billion during the quarter. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis.

A number of other analysts also recently weighed in on L. Zacks Investment Research downgraded Loews from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.

Shares of Loews (NYSE:L) opened at $52.35 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.46. Loews has a 1-year low of $45.01 and a 1-year high of $52.98. The firm has a market capitalization of $17,568.78, a PE ratio of 18.63 and a beta of 0.74.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Loews by 6.7% in 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. D.A. Davidson & CO. lifted its position in Loews by 1.0% in 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. Saratoga Research & Investment Management bought a new position in Loews in the 3rd quarter valued at about $176,000. Advisor Group Inc. lifted its position in Loews by 31.8% in the 2nd quarter. Advisor Group Inc. now owns 3,923 shares of the insurance provider’s stock valued at $183,000 after acquiring an additional 947 shares in the last quarter. Finally, IBM Retirement Fund bought a new position in Loews in the 3rd quarter valued at about $200,000. 59.29% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total value of $67,514,854.00. Following the completion of the sale, the insider now directly owns 2,169,075 shares in the company, valued at approximately $104,983,230. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Richard Waldo Scott sold 6,471 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $49.80, for a total transaction of $322,255.80. Following the completion of the transaction, the senior vice president now directly owns 11,250 shares in the company, valued at approximately $560,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,422,163 shares of company stock valued at $68,876,567. 11.80% of the stock is currently owned by company insiders.

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About Loews

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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