Zacks: Brokerages Anticipate Loews Corporation (L) Will Announce Earnings of $0.72 Per Share

Equities research analysts forecast that Loews Corporation (NYSE:L) will announce $0.72 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Loews’ earnings, with estimates ranging from $0.69 to $0.75. Loews reported earnings of $0.79 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.9%. The company is expected to report its next earnings results on Monday, February 5th.

According to Zacks, analysts expect that Loews will report full-year earnings of $2.75 per share for the current year. For the next year, analysts anticipate that the firm will report earnings of $3.05 per share, with EPS estimates ranging from $2.90 to $3.14. Zacks’ EPS averages are an average based on a survey of analysts that follow Loews.

Loews (NYSE:L) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.44. Loews had a return on equity of 4.08% and a net margin of 7.04%. The business had revenue of $3.52 billion during the quarter. During the same quarter last year, the company earned $0.89 EPS. Loews’s revenue for the quarter was up 7.1% compared to the same quarter last year.

L has been the subject of several analyst reports. BidaskClub cut Loews from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Zacks Investment Research cut Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, ValuEngine cut Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.

In other Loews news, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total value of $67,514,854.00. Following the completion of the transaction, the insider now owns 2,169,075 shares in the company, valued at $104,983,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard Waldo Scott sold 6,471 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $49.80, for a total value of $322,255.80. Following the completion of the transaction, the senior vice president now owns 11,250 shares of the company’s stock, valued at approximately $560,250. The disclosure for this sale can be found here. Insiders have sold 1,420,191 shares of company stock valued at $68,778,237 in the last 90 days. Company insiders own 11.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Aviva PLC increased its position in shares of Loews by 2.9% in the second quarter. Aviva PLC now owns 170,632 shares of the insurance provider’s stock valued at $7,989,000 after buying an additional 4,860 shares in the last quarter. Commonwealth Bank of Australia increased its position in shares of Loews by 38.4% in the second quarter. Commonwealth Bank of Australia now owns 654,351 shares of the insurance provider’s stock valued at $30,627,000 after buying an additional 181,616 shares in the last quarter. Swiss National Bank increased its position in shares of Loews by 3.0% in the second quarter. Swiss National Bank now owns 1,045,419 shares of the insurance provider’s stock valued at $48,936,000 after buying an additional 30,600 shares in the last quarter. Hosking Partners LLP increased its position in shares of Loews by 1.7% in the second quarter. Hosking Partners LLP now owns 165,663 shares of the insurance provider’s stock valued at $7,755,000 after buying an additional 2,731 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Loews in the second quarter valued at $1,686,000. Hedge funds and other institutional investors own 59.39% of the company’s stock.

Loews (NYSE:L) traded up $0.21 during trading on Friday, hitting $50.49. The stock had a trading volume of 1,000,000 shares, compared to its average volume of 951,959. Loews has a twelve month low of $44.68 and a twelve month high of $50.69. 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 stock has a market capitalization of $16,996.50, a PE ratio of 17.53 and a beta of 0.74.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Tuesday, November 28th. Loews’s dividend payout ratio (DPR) is presently 8.90%.

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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.

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Earnings History and Estimates for Loews (NYSE:L)

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