New York based Loews Corporation 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 #4 (Sell), 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 meets estimates. Our consensus called for EPS of 76 cents per share, and the company delivered the same in the quarter.
Loews Corporation Price and EPS Surprise
Key Stats to Note
• Operating revenue of $3.3 billion increased 3% year over year.
• Total expenses decreased declined 16.7% year over year to $3 billion.
• Book value as of Jun 30, 2017 was $56.01 per share, up about 2.5% from $54.62 as of Dec 31, 2016.
Check back later for our full write up on this L earnings report later!
More Stock News: 8 Companies Verge on Apple-Like Run Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>