Zacks: Brokerages Anticipate Loews Corporation (L) to Announce $0.72 EPS

Analysts predict that Loews Corporation (NYSE:L) will announce earnings per share of $0.72 for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Loews’ earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.64. Loews reported earnings per share of $0.79 in the same quarter last year, which suggests a negative year over year growth rate of 8.9%. The company is scheduled to issue its next quarterly earnings results on Monday, February 5th.

According to Zacks, analysts expect that Loews will report full year earnings of $2.80 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $3.40 per share, with EPS estimates ranging from $3.30 to $3.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Loews.

Loews (NYSE:L) last posted its 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. The business had revenue of $3.52 billion for the quarter. Loews had a net margin of 7.04% and a return on equity of 4.08%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS.

A number of research firms recently weighed in on L. Zacks Investment Research raised shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Friday, January 5th. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th.

In other news, insider Kenneth I. Siegel sold 1,940 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $49.86, for a total value of $96,728.40. Following the transaction, the insider now owns 11,250 shares of the company’s stock, valued at approximately $560,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction 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 transaction, the insider now directly 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 a total of 1,422,163 shares of company stock worth $68,876,567 in the last three months. Insiders own 11.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its holdings in shares of Loews 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 purchasing an additional 27 shares during the last quarter. Saratoga Research & Investment Management bought a new position in shares of Loews during the 3rd quarter valued at $176,000. Cerebellum GP LLC bought a new position in shares of Loews during the 4th quarter valued at $196,000. Advisor Group Inc. grew its holdings in shares of Loews by 31.8% during the 2nd quarter. Advisor Group Inc. now owns 3,923 shares of the insurance provider’s stock valued at $183,000 after purchasing an additional 947 shares during the last quarter. Finally, IBM Retirement Fund bought a new position in shares of Loews during the 3rd quarter valued at $200,000. 59.29% of the stock is currently owned by institutional investors.

Loews (NYSE L) traded up $0.11 during trading on Tuesday, reaching $52.90. 833,576 shares of the company were exchanged, compared to its average volume of 1,130,000. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46. The company has a market cap of $17,810.00, a price-to-earnings ratio of 18.37 and a beta of 0.74. Loews has a twelve month low of $45.01 and a twelve month high of $52.98.

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Loews 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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