Credit: Shutterstock photoNew York based Loews CorporationL is a diversified holding company operating through its subsidiaries.
Loews aims to strengthen its hotel business, its smallest unit, with the addition of more hotels to its portfolio.
Though offshore drilling market faces challenges from soft day rates and very few long-term contracts, Diamond Offshore continues to improve its fleet.
CNA Specialty as well as Commercial continues to experience rate increase as well as solid retentions thereby aiding solid performances at CNA Financial.
Currently, Loews has a Zacks Rank #2 (Buy), but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below. You can see the complete list of today's Zacks #1 Rank stocks here.
How was the Bottom Line?
Loews beats on earnings. Our consensus called for EPS of 63 cents per share, and the company delivered EPS of 79 cents per share.
Loews Corporation Price and EPS Surprise
Loews Corporation Price and EPS Surprise | Loews Corporation Quote
Key Stats to Note
• Operating revenue of $3.3 billion declined 1.7% year over year.
• Total expenses decreased declined 23.7% year over year to $2.9 billion.
• Book value as of Dec 31, 2016 was $53.89 per share, up about 4.3% from $51.67 as of Dec 31, 2015.
• Capital deployment via share repurchases totaled $134 million in 2016.
Check back later for our full write up on this L earnings report later!
Zacks' Top Investment Ideas for Long-Term Profit How would you like to see our best recommendations to help you find today's most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Loews Corporation (L): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
