China Life Insurance Co Ltd (NYSE:LFC) shares hit a new 52-week low on Friday following a dissappointing earnings announcement. The company traded as low as $10.13 and last traded at $10.31, with a volume of 25294 shares. The stock had previously closed at $10.83.
The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.30). The company had revenue of $19.76 billion for the quarter. China Life Insurance had a return on equity of 11.06% and a net margin of 5.62%.
Several research firms have recently weighed in on LFC. Nomura lowered China Life Insurance from a “buy” rating to a “neutral” rating in a research note on Friday, October 5th. HSBC lowered China Life Insurance from a “hold” rating to a “reduce” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. lowered China Life Insurance from an “overweight” rating to a “neutral” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley raised China Life Insurance from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. China Life Insurance has a consensus rating of “Hold” and an average target price of $14.93.
The firm has a market cap of $57.72 billion, a PE ratio of 15.01 and a beta of 1.56. The company has a quick ratio of 8.45, a current ratio of 8.45 and a debt-to-equity ratio of 0.06.
About China Life Insurance (NYSE:LFC)
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. The company operates in four segments: Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Business. It offers individual and group life, annuity, accident, and health insurance products, as well as provides pension products.
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