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New York based Loews Corporation (L - Free Report) is a diversified holding company operating through its subsidiaries.
Loews remains focused 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 #3 (Hold), 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 66 cents per share, and the company delivered EPS of 81 cents per share.
• Operating revenue of $3.3 billion increased 2% year over year. • Total expenses decreased declined 6% year over year to $2.8 billion. • Book value as of Mar 31, 2017 was $54.91 per share, up about 1.8% from $53.96 as of Dec 31, 2016.
Check back later for our full write up on this L earnings report later!
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Loews (L) Q1 Earnings Beat Estimates, Revenues Improve
New York based Loews Corporation (L - Free Report) is a diversified holding company operating through its subsidiaries.
Loews remains focused 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 #3 (Hold), 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 66 cents per share, and the company delivered EPS of 81 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 increased 2% year over year.
• Total expenses decreased declined 6% year over year to $2.8 billion.
• Book value as of Mar 31, 2017 was $54.91 per share, up about 1.8% from $53.96 as of Dec 31, 2016.
Check back later for our full write up on this L earnings report later!
Zacks' Hidden TradesWhile we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>