Have you been eager to see how Loews Corporation (L - Free Report) performed in the first quarter in comparison with the market expectations? Let’s quickly scan through the key facts from this OH-based multiline insurer’s earnings release this morning.
An Earnings Improvement
Loews reported earnings per share of $1.27 per share, increasing 42.7% year over year.
Loews Corporation Price and EPS Surprise
How Was the Estimate Revision Trend?
You should note that there was no earnings momentum for Loews prior to the earnings release. Loews has a decent earnings surprise history. The company surpassed the Zacks Consensus Estimate in two of the last four trailing four quarters.
• Operating revenue of $3.7 billion decreased 4.3% year over year.
• Total expenses increased 2.3% year over year to $3.2 billion.
• Book value as of Mar 31, 2019 was $63.59 per share, up 7.3% from $62.16 as of Dec 31, 2018.
• Repurchased $322 million worth shares.
What Zacks Rank Says
Loews carries Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this L earnings report later!
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>