Tobacco company, Lorillard Inc.( LO ) reported
increased third quarter profits on Wednesday, but fell shy of
The Greensboro, NC based company reported net income of $283
million, or $2.16 a share, an increase from last years Q3 profit of
$267 million, or $1.94 a share.
LO reported revenue of $1.66 billion, a 2.4% increase over last
years revenue of $1.62 billion.
On average, analysts expected earnings of $2.23 a share, and $2
billion in revenue.
Lorillard shares were down $5.08, or -4.39% during premarket
The Bottom Line
Shares of Lorillard ( LO ) have a 5.35% dividend
yield, based on last night's closing stock price of $115.78. The
stock has technical support in the $110 price area. If the shares
can firm up, we see overhead resistance around the $120-$122 price
Lorillard Inc.( LO ) is not recommended at
this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .
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