Loews Corp. (L) Hits New 1-Year High at $41.99
Loews Corp. (NYSE:L) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $41.99 and last traded at $41.48, with a volume of 253,278 shares. The stock had previously closed at $41.73.
A number of brokerages have issued reports on L. Zacks Investment Research raised shares of Loews Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, June 7th. TheStreet lowered shares of Loews Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st.
The stock has a market capitalization of $13.97 billion and a PE ratio of 796.73. The company’s 50-day moving average price is $41.16 and its 200-day moving average price is $39.49.
Loews Corp. (NYSE:L) last released its earnings results on Monday, August 1st. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by $0.82. The company earned $2.35 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business earned $0.59 earnings per share. Analysts predict that Loews Corp. will post $2.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, August 29th.
A hedge fund recently raised its stake in Loews Corp. stock. US Bancorp DE increased its position in shares of Loews Corp. (NYSE:L) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,412 shares of the company’s stock after buying an additional 4,077 shares during the period. US Bancorp DE’s holdings in Loews Corp. were worth $1,245,000 at the end of the most recent reporting period.
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 gathering and processing of natural gas, and operation of a chain of hotels.
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