Revenue Update on Loews Corporation(NYSE:L)

Loews Corporation(NYSE:L) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 6, 2017. Earnings per share were $0.79. The reported EPS was above estimates by 25.4%. Analysts had estimated an EPS of $0.63.

Loews Corporation (L) shares turned negative on Tuesdays trading session with the shares closing down -0.08 points or -0.17% at a volume of 7,44,818. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $46.84. The peak price level was also seen at $46.84 while the days lowest was $46.15. Finally the shares closed at $46.42. The 52-week high of the shares is $48.05 while the 52-week low is $33.84. According to the latest information available, the market cap of the company is $15,625 M.

Several Insider Transactions has been reported to the SEC. On Jan 9, 2017, Mark S Schwartz (VP & Chief Accounting Officer) sold 56 shares at $46.59 per share price.Also, On Dec 16, 2016, Kenneth I Siegel (Senior Vice President) sold 17,008 shares at $47.49 per share price.On Dec 14, 2016, Jonathan M Tisch (Co-Ch. of Bd/Off. of the Pres.) sold 2,794 shares at $47.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Loews Corporation is a holding company. The Company through its subsidiaries is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling Inc. (Diamond Offshore); Boardwalk Pipeline Partners LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels). CNA’s insurance products primarily include commercial property and casualty coverages including surety. Diamond Offshore is engaged in the business of operating drilling rigs. Boardwalk Pipeline is engaged in natural gas and natural gas liquids transportation and storage and natural gas gathering and processing. The subsidiaries of Loews Hotels Holding Corporation operate a chain of 21 hotels.

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