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Here's Why You Should Hold on to Loews (L) Stock Right Now
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Loews Corporation’s (L - Free Report) prospects have been looking up of late. The company’s focus on strengthening its hotel business – under the name of Loews Hotels and Resorts – should continue to drive growth. Currently, the Multi line insurer operates a chain of 25 hotels. Interestingly, the company is seeking to diversify this business in Boston, Chicago, San Francisco, Washington D.C., New York City, Dallas, Toronto and Seattle to boost its portfolio and cater to a larger customer base. This in turn will enable the company to achieve better overall results in the future.
CNA Financial Corp (CNA - Free Report) remains committed toward improving its field operations and commercial ventures, while growing the origination of its specialty business. Such efforts have helped the company to shield itself from intense competition. This apart, CNA Financial is investing in information technology to enhance its underwriting capabilities and long-term growth.
Further, Boardwalk Pipeline Partners is poised to benefit from increasing exports of natural gas and pipeline exports to Mexico as well as industrial demand for natural gas and liquids. Moreover, the unit remains focused on long-term growth. To that end, projects worth $1.2 billion are underway and are expected to be placed into service between now and 2018.
Notably, the Multi line insurer’s stock seems to be undervalued as it is trading at 0.67x price to book multiple over a period of one year. This compares favorably with the Multi line Insurance industry’s multiple of 1.31x. The company holds a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Loews gained 23.99% in the last one year, underperforming the Zacks categorized Multi line Insurance industry’s growth of 26.20%. However, we expect that Loews’ strong hotel business, CNA Financial’s solid underwriting capabilities, and the Boardwalk unit’s focus on long-term growth should result in share price appreciation.
However, market conditions continue to remain tough for Diamond Offshore (DO - Free Report) . Nonetheless, Loews remains optimistic about medium- and long-term growth owing to the growing demand for oil, as evidenced by the addition of new drilling rigs that are contracted through 2019.
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Here's Why You Should Hold on to Loews (L) Stock Right Now
Loews Corporation’s (L - Free Report) prospects have been looking up of late. The company’s focus on strengthening its hotel business – under the name of Loews Hotels and Resorts – should continue to drive growth. Currently, the Multi line insurer operates a chain of 25 hotels. Interestingly, the company is seeking to diversify this business in Boston, Chicago, San Francisco, Washington D.C., New York City, Dallas, Toronto and Seattle to boost its portfolio and cater to a larger customer base. This in turn will enable the company to achieve better overall results in the future.
CNA Financial Corp (CNA - Free Report) remains committed toward improving its field operations and commercial ventures, while growing the origination of its specialty business. Such efforts have helped the company to shield itself from intense competition. This apart, CNA Financial is investing in information technology to enhance its underwriting capabilities and long-term growth.
Further, Boardwalk Pipeline Partners is poised to benefit from increasing exports of natural gas and pipeline exports to Mexico as well as industrial demand for natural gas and liquids. Moreover, the unit remains focused on long-term growth. To that end, projects worth $1.2 billion are underway and are expected to be placed into service between now and 2018.
Notably, the Multi line insurer’s stock seems to be undervalued as it is trading at 0.67x price to book multiple over a period of one year. This compares favorably with the Multi line Insurance industry’s multiple of 1.31x. The company holds a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Loews gained 23.99% in the last one year, underperforming the Zacks categorized Multi line Insurance industry’s growth of 26.20%. However, we expect that Loews’ strong hotel business, CNA Financial’s solid underwriting capabilities, and the Boardwalk unit’s focus on long-term growth should result in share price appreciation.
However, market conditions continue to remain tough for Diamond Offshore (DO - Free Report) . Nonetheless, Loews remains optimistic about medium- and long-term growth owing to the growing demand for oil, as evidenced by the addition of new drilling rigs that are contracted through 2019.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>