Loews Corporation (NYSE:L) posted its earnings results on Monday. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.44, RTT News reports. Loews Corporation had a net margin of 7.04% and a return on equity of 4.10%. The firm had revenue of $3.52 billion during the quarter. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis.
Loews Corporation (NYSE:L) traded up 0.40% during trading on Wednesday, reaching $49.71. 322,540 shares of the company’s stock were exchanged. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 14.69 and a beta of 0.71. Loews Corporation has a 52 week low of $40.86 and a 52 week high of $49.74. The stock has a 50-day moving average price of $48.28 and a 200 day moving average price of $47.47.
Several equities analysts recently issued reports on L shares. BidaskClub upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Loews Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine cut shares of Loews Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Loews Corporation currently has an average rating of “Hold” and a consensus price target of $39.00.
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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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