Loews Corporation Forecasted to Post Q4 2017 Earnings of $0.64 Per Share (L)
Loews Corporation (NYSE:L) – Analysts at Langen Mcalenn issued their Q4 2017 earnings per share (EPS) estimates for Loews in a note issued to investors on Tuesday. Langen Mcalenn analyst R. Glasspiegel expects that the insurance provider will earn $0.64 per share for the quarter. Langen Mcalenn also issued estimates for Loews’ FY2018 earnings at $3.30 EPS.
L has been the topic of several other reports. Zacks Investment Research cut shares of Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. ValuEngine cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.
Shares of Loews (L) opened at $52.51 on Thursday. The firm has a market cap of $17,679.87, a P/E ratio of 18.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews has a fifty-two week low of $45.01 and a fifty-two week high of $52.98.
Loews (NYSE:L) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.44. The company had revenue of $3.52 billion during the quarter. Loews had a net margin of 7.04% and a return on equity of 4.08%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS.
Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Loews by 6.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 140 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Loews by 1.0% in the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 27 shares during the last quarter. Saratoga Research & Investment Management bought a new position in Loews in the third quarter valued at approximately $176,000. Advisor Group Inc. boosted its stake in Loews by 31.8% in the second quarter. Advisor Group Inc. now owns 3,923 shares of the insurance provider’s stock valued at $183,000 after acquiring an additional 947 shares during the last quarter. Finally, IBM Retirement Fund bought a new position in Loews in the third quarter valued at approximately $200,000. 59.29% of the stock is currently owned by hedge funds and other institutional investors.
In other Loews news, insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total value of $67,514,854.00. Following the transaction, the insider now directly owns 2,169,075 shares of the company’s stock, valued at $104,983,230. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard Waldo Scott sold 6,471 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $49.80, for a total transaction of $322,255.80. Following the completion of the transaction, the senior vice president now directly owns 11,250 shares in the company, valued at $560,250. The disclosure for this sale can be found here. Insiders have sold 1,422,163 shares of company stock worth $68,876,567 over the last three months. 11.80% of the stock is owned by insiders.
COPYRIGHT VIOLATION NOTICE: “Loews Corporation Forecasted to Post Q4 2017 Earnings of $0.64 Per Share (L)” was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://theolympiareport.com/2018/01/20/loews-corporation-forecasted-to-post-q4-2017-earnings-of-0-64-per-share-l.html.
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.
Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.