$0.61 Earnings Per Share Expected for Loews Co. (NYSE:L) This Quarter

Wall Street analysts expect Loews Co. (NYSE:L) to report earnings of $0.61 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Loews’ earnings. Loews posted earnings of $0.88 per share in the same quarter last year, which would suggest a negative year over year growth rate of 30.7%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, October 28th.

On average, analysts expect that Loews will report full-year earnings of $3.45 per share for the current year. For the next fiscal year, analysts forecast that the company will report earnings of $3.25 per share. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Loews.

Loews (NYSE:L) last announced its earnings results on Monday, August 5th. The insurance provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $3.62 billion during the quarter. Loews had a return on equity of 4.72% and a net margin of 5.30%. During the same quarter in the prior year, the company earned $0.76 EPS.

A number of research firms have issued reports on L. Zacks Investment Research upgraded Loews from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a report on Wednesday, August 28th. ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $65.20.

In related news, VP Marc A. Alpert sold 1,626 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $49.26, for a total transaction of $80,096.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 14.20% of the company’s stock.

A number of large investors have recently made changes to their positions in L. Nuveen Asset Management LLC boosted its position in Loews by 22,489.9% in the second quarter. Nuveen Asset Management LLC now owns 1,547,405 shares of the insurance provider’s stock worth $84,596,000 after purchasing an additional 1,540,555 shares during the last quarter. BlackRock Inc. boosted its position in Loews by 3.8% in the second quarter. BlackRock Inc. now owns 19,005,207 shares of the insurance provider’s stock worth $1,039,014,000 after purchasing an additional 700,123 shares during the last quarter. Acadian Asset Management LLC boosted its position in Loews by 203.1% in the second quarter. Acadian Asset Management LLC now owns 568,230 shares of the insurance provider’s stock worth $31,064,000 after purchasing an additional 380,774 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Loews by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 17,100,855 shares of the insurance provider’s stock worth $919,513,000 after buying an additional 368,723 shares during the period. Finally, Man Group plc raised its stake in shares of Loews by 306.6% in the second quarter. Man Group plc now owns 473,967 shares of the insurance provider’s stock worth $25,913,000 after buying an additional 357,405 shares during the period. 62.13% of the stock is currently owned by institutional investors and hedge funds.

L traded up $0.11 during trading on Friday, reaching $50.96. The stock had a trading volume of 505,925 shares, compared to its average volume of 1,058,904. The stock’s 50 day moving average is $50.14 and its two-hundred day moving average is $51.37. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 17.94 and a beta of 0.67. Loews has a one year low of $42.06 and a one year high of $56.20.

About Loews

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.

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