Leucadia National Corporation (LUK) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Leucadia National Corporation (NYSE:LUK) from a strong-buy rating to a hold rating in a report released on Thursday, May 11th.

According to Zacks, “Leucadia's businesses are favorably positioned for the future with improving fundamentals and strong first-quarter 2017 results. The company’s businesses have separate revenue streams that move according to their own cycle and remain relatively immune to the vagaries of a particular business at any given point of time. A pro-growth business environment with a lower corporate tax structure should bode well for the company in the coming quarters. The company outperformed the industry in the first quarter. However, higher tariff and non-tariff barriers to trade due to the Brexit referendum and high network maintenance costs to prevent any intrusion and data theft of confidential and sensitive client information remain headwinds. In addition, diffused business focus and lack of clarity in strategic goals and priorities make it susceptible to high operating risks and lower its profitability to some extent.”

Separately, TheStreet raised shares of Leucadia National Corporation from a c rating to a b rating in a research note on Friday, May 5th.

Leucadia National Corporation (NYSE:LUK) traded up 1.05% during trading on Thursday, hitting $26.05. 2,163,050 shares of the stock were exchanged. Leucadia National Corporation has a 52 week low of $15.48 and a 52 week high of $27.34. The stock has a 50 day moving average of $25.15 and a 200-day moving average of $24.86. The stock has a market cap of $9.37 billion, a P/E ratio of 15.40 and a beta of 1.26.

Leucadia National Corporation (NYSE:LUK) last posted its quarterly earnings data on Thursday, April 27th. The conglomerate reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Leucadia National Corporation had a net margin of 5.99% and a return on equity of 6.32%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.99 billion. The company’s revenue was up 42.3% compared to the same quarter last year. Equities analysts expect that Leucadia National Corporation will post $1.65 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 19th will be issued a $0.0625 dividend. The ex-dividend date is Thursday, June 15th. This represents a $0.25 annualized dividend and a yield of 0.96%. Leucadia National Corporation’s dividend payout ratio (DPR) is presently 3.57%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Leucadia National Corporation by 3,309.8% in the first quarter. BlackRock Inc. now owns 19,514,207 shares of the conglomerate’s stock valued at $507,370,000 after buying an additional 18,941,908 shares during the period. Baillie Gifford & Co. boosted its position in shares of Leucadia National Corporation by 107.7% in the first quarter. Baillie Gifford & Co. now owns 14,415,651 shares of the conglomerate’s stock valued at $374,807,000 after buying an additional 7,475,015 shares during the period. Norges Bank purchased a new position in shares of Leucadia National Corporation during the fourth quarter valued at about $59,507,000. Janus Capital Management LLC boosted its position in shares of Leucadia National Corporation by 438.9% in the first quarter. Janus Capital Management LLC now owns 1,888,782 shares of the conglomerate’s stock valued at $49,108,000 after buying an additional 1,538,278 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Leucadia National Corporation by 5.0% in the first quarter. Vanguard Group Inc. now owns 31,656,362 shares of the conglomerate’s stock valued at $823,066,000 after buying an additional 1,511,066 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.

Leucadia National Corporation Company Profile

Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.

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