$0.80 Earnings Per Share Expected for Loews Corporation (L) This Quarter

Equities analysts forecast that Loews Corporation (NYSE:L) will post earnings per share of $0.80 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Loews’ earnings. Loews posted earnings of $0.79 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The business is expected to issue its next 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 firm will post earnings of $3.30 per share, with EPS estimates ranging from $3.10 to $3.50. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Loews.

Loews (NYSE:L) last announced its 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 for the quarter. During the same quarter in the previous year, the company posted $0.89 earnings per share. Loews’s revenue for the quarter was up 7.1% on a year-over-year basis.

A number of analysts have recently issued reports on L shares. Zacks Investment Research upgraded shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Friday. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Thursday, October 26th.

Loews (L) traded down $0.04 on Friday, reaching $50.58. 1,166,200 shares of the company’s stock traded hands, compared to its average volume of 1,126,440. 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 firm has a market capitalization of $17,140.00, a price-to-earnings ratio of 17.56 and a beta of 0.74. Loews has a 12 month low of $45.01 and a 12 month high of $51.02.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 29th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.49%. Loews’s payout ratio is 8.68%.

In other Loews news, Director Ann E. Berman sold 1,383 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total transaction of $69,564.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth I. Siegel sold 1,940 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $49.86, for a total transaction of $96,728.40. Following the sale, the insider now directly owns 11,250 shares in the company, valued at $560,925. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,422,163 shares of company stock valued at $68,876,567. Company insiders own 11.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of L. Pacer Advisors Inc. lifted its position in Loews by 8.2% during the second quarter. Pacer Advisors Inc. now owns 6,868 shares of the insurance provider’s stock valued at $321,000 after buying an additional 523 shares during the period. Neuberger Berman Group LLC lifted its position in Loews by 28.7% during the second quarter. Neuberger Berman Group LLC now owns 76,743 shares of the insurance provider’s stock valued at $3,592,000 after buying an additional 17,129 shares during the period. Commerce Bank raised its position in shares of Loews by 0.3% in the 2nd quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock worth $339,000 after purchasing an additional 24 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of Loews by 38.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock worth $30,627,000 after purchasing an additional 181,616 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new position in shares of Loews in the 2nd quarter worth about $1,118,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

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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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