Loews Corporation to Issue Quarterly Dividend of $0.06 (L)
Loews Corporation (NYSE:L) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Wednesday, August 30th will be paid a dividend of 0.0625 per share by the insurance provider on Tuesday, September 12th. This represents a $0.25 annualized dividend and a dividend yield of 0.51%.
Loews Corporation has a dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Loews Corporation to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 7.7%.
Shares of Loews Corporation (NYSE:L) traded down 0.53% on Wednesday, hitting $48.68. The stock had a trading volume of 60,658 shares. The firm’s 50-day moving average is $47.44 and its 200-day moving average is $46.94. Loews Corporation has a one year low of $39.71 and a one year high of $49.27. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 14.39 and a beta of 0.71.
Loews Corporation (NYSE:L) last posted its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.76 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.76. Loews Corporation had a return on equity of 4.84% and a net margin of 8.44%. The firm had revenue of $3.36 billion for the quarter. During the same quarter last year, the firm earned $0.59 earnings per share. On average, analysts expect that Loews Corporation will post $3.04 EPS for the current fiscal year.
L has been the topic of a number of analyst reports. Zacks Investment Research downgraded Loews Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. BidaskClub downgraded Loews Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC restated a “sell” rating and issued a $35.00 price target on shares of Loews Corporation in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.33.
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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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