Leucadia National Corp. (LUK) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Leucadia National Corp. (NYSE:LUK) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $21.00 price target on the stock.
According to Zacks, “LEUCADIA NATL is a diversified financial services holding company principally engaged in personal and commercial lines of property and casualty insurance, life insurance, banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value, rather than emphasizing volume or market share. Additionally, the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value. “
A number of other equities analysts have also weighed in on LUK. Oppenheimer Holdings Inc. reissued a buy rating and set a $22.00 price objective on shares of Leucadia National Corp. in a research note on Wednesday, June 22nd. TheStreet raised Leucadia National Corp. from a sell rating to a hold rating in a research note on Wednesday, August 10th.
Shares of Leucadia National Corp. (NYSE:LUK) traded up 0.389% during trading on Wednesday, reaching $19.375. 532,192 shares of the company were exchanged. The firm’s 50 day moving average is $18.94 and its 200 day moving average is $17.71. Leucadia National Corp. has a 1-year low of $14.27 and a 1-year high of $21.29. The firm’s market capitalization is $6.98 billion.
Leucadia National Corp. (NYSE:LUK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.10. Leucadia National Corp. had a negative return on equity of 2.61% and a negative net margin of 2.95%. On average, equities analysts anticipate that Leucadia National Corp. will post $0.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, September 15th. Leucadia National Corp.’s dividend payout ratio (DPR) is presently -32.47%.
In other news, Chairman Joseph S. Steinberg sold 200,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $19.04, for a total value of $3,808,000.00. Following the transaction, the chairman now owns 1,992,687 shares of the company’s stock, valued at approximately $37,940,760.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder National Corp Leucadia purchased 80,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was acquired at an average cost of $37.00 per share, for a total transaction of $2,960,000.00. The disclosure for this purchase can be found here. 9.50% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Leucadia National Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 28,722,993 shares of the company’s stock valued at $497,768,000 after buying an additional 668,282 shares during the period. First Pacific Advisors LLC raised its position in shares of Leucadia National Corp. by 7.7% in the second quarter. First Pacific Advisors LLC now owns 22,520,090 shares of the company’s stock valued at $390,273,000 after buying an additional 1,617,090 shares during the period. State Street Corp raised its position in shares of Leucadia National Corp. by 0.4% in the first quarter. State Street Corp now owns 13,268,596 shares of the company’s stock valued at $214,564,000 after buying an additional 55,928 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Leucadia National Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,471,633 shares of the company’s stock valued at $136,986,000 after buying an additional 22,742 shares during the period. Finally, Scopia Capital Management LP acquired a new position in shares of Leucadia National Corp. during the first quarter valued at approximately $106,120,000. 73.14% of the stock is currently owned by institutional investors and hedge funds.
About Leucadia National Corp.
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded company providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Leucadia National Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leucadia National Corp. and related companies with MarketBeat.com's FREE daily email newsletter.