Q4 2018 EPS Estimates for Loews Co. Cut by Analyst (L)

Loews Co. (NYSE:L) – Equities research analysts at Langen Mcalenn dropped their Q4 2018 EPS estimates for shares of Loews in a note issued to investors on Tuesday, November 6th. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will post earnings of $0.77 per share for the quarter, down from their previous estimate of $0.88. Langen Mcalenn also issued estimates for Loews’ Q1 2019 earnings at $0.97 EPS, Q2 2019 earnings at $0.93 EPS, Q4 2019 earnings at $1.04 EPS and FY2019 earnings at $3.90 EPS.

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

Separately, Deutsche Bank boosted their price objective on Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.68.

Shares of NYSE L opened at $49.59 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.35. The company has a market cap of $15.64 billion, a PE ratio of 17.34 and a beta of 0.68. Loews has a 12-month low of $44.78 and a 12-month high of $53.59.

In other Loews news, Director Ann E. Berman sold 2,216 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total value of $109,182.32. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $73,905. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. St. James Investment Company LLC grew its holdings in shares of Loews by 71.1% during the 3rd quarter. St. James Investment Company LLC now owns 1,065,751 shares of the insurance provider’s stock valued at $53,533,000 after acquiring an additional 442,857 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Loews by 2.0% during the 3rd quarter. BlackRock Inc. now owns 18,192,680 shares of the insurance provider’s stock valued at $913,818,000 after acquiring an additional 357,382 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Loews by 29.9% during the 2nd quarter. California Public Employees Retirement System now owns 1,048,442 shares of the insurance provider’s stock valued at $50,619,000 after acquiring an additional 241,224 shares in the last quarter. Unigestion Holding SA purchased a new position in shares of Loews during the 2nd quarter valued at $11,471,000. Finally, Prudential Financial Inc. grew its holdings in shares of Loews by 38.8% during the 3rd quarter. Prudential Financial Inc. now owns 801,459 shares of the insurance provider’s stock valued at $40,257,000 after acquiring an additional 224,244 shares in the last quarter. 62.57% of the stock is currently owned by 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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Earnings History and Estimates for Loews (NYSE:L)

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