Loews Corporation (NYSE:L) announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.44, RTT News reports. The business had revenue of $3.52 billion for the quarter. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share.
Shares of Loews Corporation (NYSE:L) traded up $0.38 during midday trading on Tuesday, hitting $49.89. 1,182,800 shares of the stock traded hands, compared to its average volume of 849,153. Loews Corporation has a 52-week low of $43.37 and a 52-week high of $49.99. The firm has a market capitalization of $16,666.61, a price-to-earnings ratio of 17.19 and a beta of 0.75. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.50%. Loews Corporation’s dividend payout ratio is currently 8.90%.
In other news, insider Jonathan M. Tisch sold 1,394,935 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the transaction, the insider now owns 2,169,075 shares in the company, valued at $104,983,230. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,395,132 shares of company stock worth $67,524,613 in the last quarter. Company insiders own 11.80% of the company’s stock.
A number of analysts have weighed in on L shares. BidaskClub raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine cut shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Loews Corporation has an average rating of “Hold” and an average target price of $35.00.
About Loews Corporation
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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