Loews Corporation (L) Downgraded by BidaskClub to “Sell”
BidaskClub cut shares of Loews Corporation (NYSE:L) from a hold rating to a sell rating in a report released on Thursday.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Loews Corporation from a buy rating to a hold rating in a research note on Monday, June 19th. Jefferies Group LLC restated a sell rating and issued a $35.00 price target on shares of Loews Corporation in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Loews Corporation presently has an average rating of Hold and a consensus target price of $43.33.
Loews Corporation (NYSE L) traded up 0.76% during trading on Thursday, reaching $47.57. The company’s stock had a trading volume of 643,296 shares. The company has a market capitalization of $16.01 billion, a P/E ratio of 14.06 and a beta of 0.71. The firm’s 50-day moving average price is $47.96 and its 200 day moving average price is $47.16. Loews Corporation has a 12-month low of $39.71 and a 12-month high of $49.58.
Loews Corporation (NYSE:L) last released its earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.76. The firm had revenue of $3.36 billion during the quarter. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. During the same quarter last year, the business posted $0.59 earnings per share. On average, analysts predict that Loews Corporation will post $3.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 30th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, August 28th. Loews Corporation’s dividend payout ratio is presently 7.53%.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Loews Corporation by 2,869.0% in the first quarter. BlackRock Inc. now owns 17,358,322 shares of the insurance provider’s stock worth $811,848,000 after buying an additional 16,773,671 shares during the period. Janus Henderson Group PLC boosted its stake in Loews Corporation by 4,046.2% in the second quarter. Janus Henderson Group PLC now owns 1,657,777 shares of the insurance provider’s stock worth $77,601,000 after buying an additional 1,617,794 shares during the period. Janus Capital Management LLC boosted its stake in Loews Corporation by 157.4% in the first quarter. Janus Capital Management LLC now owns 1,327,375 shares of the insurance provider’s stock worth $62,082,000 after buying an additional 811,689 shares during the period. Vanguard Group Inc. boosted its stake in Loews Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 18,257,124 shares of the insurance provider’s stock worth $853,885,000 after buying an additional 646,147 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Loews Corporation by 13.1% in the second quarter. Wells Fargo & Company MN now owns 4,348,887 shares of the insurance provider’s stock worth $203,570,000 after buying an additional 503,117 shares during the period. Institutional investors and hedge funds own 58.80% of the company’s stock.
About Loews Corporation
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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