Equities research analysts predict that Loews Co. (NYSE:L) will announce earnings per share (EPS) of $0.80 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Loews’ earnings, with estimates ranging from $0.77 to $0.82. Loews posted earnings of $0.76 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The firm is expected to report its next earnings report on Monday, July 30th.
On average, analysts expect that Loews will report full year earnings of $3.50 per share for the current year. For the next year, analysts anticipate that the company will report earnings of $3.85 per share, with EPS estimates ranging from $3.65 to $4.05. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Loews.
Loews (NYSE:L) last posted its earnings results on Monday, April 30th. The insurance provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.11. The company had revenue of $3.58 billion during the quarter. Loews had a net margin of 8.29% and a return on equity of 4.07%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share.
A number of research firms have weighed in on L. Zacks Investment Research cut shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a report on Friday, May 18th. Finally, Citigroup raised shares of Loews from a “neutral” rating to a “buy” rating and cut their price objective for the company from $63.10 to $30.70 in a report on Monday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.57.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Loews by 0.5% in the 4th quarter. BlackRock Inc. now owns 17,733,302 shares of the insurance provider’s stock valued at $887,195,000 after purchasing an additional 82,323 shares during the last quarter. Boston Partners increased its position in shares of Loews by 1.3% in the 1st quarter. Boston Partners now owns 8,147,231 shares of the insurance provider’s stock valued at $405,162,000 after purchasing an additional 101,758 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Loews by 3.8% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,704,167 shares of the insurance provider’s stock valued at $283,668,000 after purchasing an additional 206,886 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Loews by 2.5% in the 1st quarter. Wells Fargo & Company MN now owns 5,526,667 shares of the insurance provider’s stock valued at $274,841,000 after purchasing an additional 133,196 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Loews by 10.7% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,213,350 shares of the insurance provider’s stock valued at $159,800,000 after purchasing an additional 311,032 shares during the last quarter. Hedge funds and other institutional investors own 62.67% of the company’s stock.
NYSE L traded down $0.21 on Friday, reaching $49.61. 1,845,634 shares of the company’s stock traded hands, compared to its average volume of 1,443,020. The company has a market capitalization of $15.98 billion, a PE ratio of 17.35 and a beta of 0.66. Loews has a fifty-two week low of $45.01 and a fifty-two week high of $53.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.34.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Shareholders of record on Wednesday, May 30th were issued a $0.0625 dividend. The ex-dividend date was Tuesday, May 29th. This represents a $0.25 annualized dividend and a yield of 0.50%. Loews’s payout ratio is 8.74%.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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