Zacks: Brokerages Anticipate Loews Co. (L) to Announce $0.66 EPS

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Brokerages expect that Loews Co. (NYSE:L) will announce earnings per share (EPS) of $0.66 for the current quarter, according to Zacks. Zero analysts have made estimates for Loews’ earnings, with the lowest EPS estimate coming in at $0.59 and the highest estimate coming in at $0.72. Loews posted earnings of $0.83 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 20.5%. The firm is scheduled to issue its next earnings report on Monday, February 11th.

According to Zacks, analysts expect that Loews will report full year earnings of $3.00 per share for the current financial year. For the next year, analysts expect that the company will report earnings of $3.70 per share, with EPS estimates ranging from $3.50 to $3.90. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Loews.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.10). Loews had a return on equity of 4.75% and a net margin of 8.94%. The company had revenue of $3.61 billion for the quarter. During the same quarter last year, the business posted $0.53 EPS. Loews’s revenue for the quarter was up 2.5% compared to the same quarter last year.

Several equities analysts recently weighed in on the company. CIBC reaffirmed an “average” rating and issued a $70.00 price objective on shares of Loews in a research note on Thursday, November 15th. Zacks Investment Research raised Loews from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Raymond James reissued a “buy” rating and set a $66.00 price target on shares of Loews in a research report on Wednesday, November 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Loews presently has an average rating of “Hold” and an average target price of $58.45.

Shares of NYSE L traded up $0.08 during trading hours on Wednesday, reaching $46.66. The stock had a trading volume of 12,233 shares, compared to its average volume of 1,137,519. The stock has a market cap of $14.47 billion, a PE ratio of 16.31 and a beta of 0.67. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.52. Loews has a fifty-two week low of $42.06 and a fifty-two week high of $53.59.

In related news, Director Charles M. Diker sold 664 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $48.48, for a total value of $32,190.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew H. Tisch sold 22,916 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $45.10, for a total transaction of $1,033,511.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,869 shares of company stock valued at $2,000,821. Company insiders own 12.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in L. Reinhart Partners Inc. raised its holdings in shares of Loews by 1.0% during the third quarter. Reinhart Partners Inc. now owns 297,887 shares of the insurance provider’s stock worth $14,963,000 after acquiring an additional 3,080 shares during the period. Securian Asset Management Inc boosted its holdings in shares of Loews by 6.7% during the 3rd quarter. Securian Asset Management Inc now owns 28,112 shares of the insurance provider’s stock worth $1,412,000 after buying an additional 1,765 shares during the period. Schwerin Boyle Capital Management Inc. boosted its holdings in shares of Loews by 519.0% during the 3rd quarter. Schwerin Boyle Capital Management Inc. now owns 431,425 shares of the insurance provider’s stock worth $21,670,000 after buying an additional 361,725 shares during the period. Verition Fund Management LLC bought a new stake in shares of Loews during the 2nd quarter worth about $560,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Loews by 12.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 280,279 shares of the insurance provider’s stock worth $14,078,000 after buying an additional 30,934 shares during the period. 63.30% of the stock is currently owned by hedge funds and other institutional investors.

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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