Brokerages Expect Loews Co. (L) to Post $0.89 Earnings Per Share

Wall Street analysts expect Loews Co. (NYSE:L) to announce $0.89 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Loews’ earnings. The lowest EPS estimate is $0.84 and the highest is $0.94. Loews reported earnings of $0.46 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 93.5%. The company is expected to issue its next quarterly earnings report on Monday, October 29th.

On average, analysts expect that Loews will report full-year earnings of $3.40 per share for the current financial year. For the next financial year, analysts forecast that the business will post earnings of $4.05 per share, with EPS estimates ranging from $3.80 to $4.30. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Loews.

Loews (NYSE:L) last issued its earnings results on Monday, July 30th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Loews had a return on equity of 4.11% and a net margin of 8.15%. The firm had revenue of $3.59 billion for the quarter. During the same period last year, the firm posted $0.68 earnings per share.

L has been the topic of several research reports. Zacks Investment Research cut Loews from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Deutsche Bank boosted their price objective on Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Loews presently has a consensus rating of “Hold” and an average target price of $53.68.

Shares of L stock traded down $0.44 during trading hours on Monday, hitting $46.80. The stock had a trading volume of 2,092,861 shares, compared to its average volume of 1,354,246. Loews has a one year low of $45.52 and a one year high of $53.59. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 16.36 and a beta of 0.65.

In other Loews news, VP Marc A. Alpert sold 2,141 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $49.97, for a total transaction of $106,985.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.30% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Reilly Financial Advisors LLC lifted its holdings in Loews by 402.4% during the second quarter. Reilly Financial Advisors LLC now owns 2,135 shares of the insurance provider’s stock worth $103,000 after buying an additional 1,710 shares during the period. Braun Bostich & Associates Inc. lifted its holdings in Loews by 1,286.0% during the second quarter. Braun Bostich & Associates Inc. now owns 2,176 shares of the insurance provider’s stock worth $105,000 after buying an additional 2,019 shares during the period. Dupont Capital Management Corp lifted its holdings in Loews by 57.9% during the second quarter. Dupont Capital Management Corp now owns 3,042 shares of the insurance provider’s stock worth $147,000 after buying an additional 1,116 shares during the period. Federated Investors Inc. PA lifted its holdings in Loews by 385.9% during the second quarter. Federated Investors Inc. PA now owns 3,304 shares of the insurance provider’s stock worth $160,000 after buying an additional 2,624 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Loews during the second quarter worth $176,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

About Loews

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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