Loews Co. Expected to Post Q1 2018 Earnings of $0.72 Per Share (L)

Loews Co. (NYSE:L) – Equities researchers at Langen Mcalenn cut their Q1 2018 earnings estimates for Loews in a report issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will earn $0.72 per share for the quarter, down from their previous estimate of $0.84. Langen Mcalenn also issued estimates for Loews’ Q2 2018 earnings at $0.81 EPS and Q3 2018 earnings at $1.00 EPS.

Loews (NYSE:L) last issued its earnings results on Monday, February 12th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $3.56 billion for the quarter. Loews had a net margin of 8.47% and a return on equity of 4.10%. Loews’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS.

A number of other equities analysts have also recently commented on L. Desjardins cut shares of Loews to a “hold” rating and set a $76.00 target price on the stock. in a research report on Tuesday, January 30th. ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Loews has a consensus rating of “Hold” and a consensus target price of $56.00.

Loews (NYSE L) opened at $48.87 on Thursday. The company has a market cap of $15,970.69, a price-to-earnings ratio of 14.17 and a beta of 0.71. Loews has a 52-week low of $45.01 and a 52-week high of $53.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Wednesday, February 28th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, February 27th. Loews’s payout ratio is presently 7.25%.

In other Loews news, Director Ann E. Berman sold 1,383 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total value of $69,564.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 7,800 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.51, for a total transaction of $370,578.00. Following the completion of the transaction, the insider now owns 2,990,022 shares in the company, valued at approximately $142,055,945.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,360 shares of company stock worth $1,400,277. 11.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of Loews by 15.9% during the third quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock valued at $241,132,000 after buying an additional 689,401 shares during the period. St. James Investment Company LLC purchased a new position in shares of Loews during the third quarter valued at about $29,452,000. NWQ Investment Management Company LLC increased its position in shares of Loews by 295.7% during the fourth quarter. NWQ Investment Management Company LLC now owns 647,020 shares of the insurance provider’s stock valued at $32,370,000 after buying an additional 483,512 shares during the period. Renaissance Technologies LLC increased its position in shares of Loews by 73.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,082,400 shares of the insurance provider’s stock valued at $54,152,000 after buying an additional 456,600 shares during the period. Finally, PGGM Investments increased its position in shares of Loews by 188.9% during the third quarter. PGGM Investments now owns 677,650 shares of the insurance provider’s stock valued at $32,432,000 after buying an additional 443,056 shares during the period. Hedge funds and other institutional investors own 59.43% of the company’s stock.

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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.

Earnings History and Estimates for Loews (NYSE:L)

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