Analysts Anticipate Loews Co. (L) to Post $0.65 EPS
Wall Street brokerages expect Loews Co. (NYSE:L) to post earnings of $0.65 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Loews’ earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.52. Loews reported earnings of $0.30 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 116.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Monday, May 1st.
On average, analysts expect that Loews will report full year earnings of $3.07 per share for the current year, with EPS estimates ranging from $2.97 to $3.15. For the next year, analysts expect that the business will report earnings of $3.17 per share, with EPS estimates ranging from $3.12 to $3.20. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Loews.
Loews (NYSE:L) last released its quarterly earnings results on Monday, February 6th. The insurance provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.16. The company had revenue of $3.34 billion for the quarter. Loews had a return on equity of 3.88% and a net margin of 4.82%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share.
Separately, Zacks Investment Research raised Loews from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, January 3rd.
Loews (NYSE:L) traded down 0.24% during mid-day trading on Tuesday, hitting $45.95. The stock had a trading volume of 712,406 shares. Loews has a 52 week low of $38.17 and a 52 week high of $48.05. The company’s 50 day moving average price is $46.85 and its 200 day moving average price is $45.43. The firm has a market cap of $15.47 billion, a PE ratio of 23.81 and a beta of 0.73.
Large investors have recently modified their holdings of the company. Cedar Wealth Management LLC raised its stake in shares of Loews by 5.2% in the third quarter. Cedar Wealth Management LLC now owns 3,820 shares of the insurance provider’s stock worth $157,000 after buying an additional 190 shares in the last quarter. Roof Eidam & Maycock ADV acquired a new stake in shares of Loews during the third quarter worth $1,559,000. Wells Fargo & Company MN raised its stake in shares of Loews by 12.2% in the third quarter. Wells Fargo & Company MN now owns 3,787,104 shares of the insurance provider’s stock worth $155,839,000 after buying an additional 411,123 shares in the last quarter. Enterprise Financial Services Corp raised its stake in shares of Loews by 0.7% in the third quarter. Enterprise Financial Services Corp now owns 7,790 shares of the insurance provider’s stock worth $321,000 after buying an additional 53 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of Loews by 4.9% in the third quarter. World Asset Management Inc now owns 29,615 shares of the insurance provider’s stock worth $1,219,000 after buying an additional 1,390 shares in the last quarter. Hedge funds and other institutional investors own 58.05% of the company’s stock.
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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