S&P 500 (NYSE:SPY) component Loews Corp (NYSE:L) will unveil its latest earnings on Monday, August 1, 2011. Through its subsidiaries, Loews Corporation is involved in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, production of natural gas and liquids, operation of interstate natural gas pipeline and operation of hotels.
Loews Corp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 75 cents per share, a decline of 13.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 81 cents. Between one and three months ago, the average estimate was unchanged, but has since dropped during the last month. For the year, analysts are projecting profit of $3.21 per share, a rise of 5.2% from last year.
Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported net income of 89 cents per share versus a mean estimate of profit of 91 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by 29 cents.
Revenue has fallen in the past four quarters. Revenue declined 1.2% to $3.67 billion in first quarter. The figure fell 2.8% in the fourth quarter of the last fiscal year from the year earlier, dropped 1% in third quarter of the last fiscal year from the year-ago quarter and 1.4% in the second quarter of the last fiscal year.
The decrease in profit in the first quarter comes after net income rose in the previous quarter. In the first quarter, net income fell 9% to $382 million. In the fourth quarter of the last fiscal year, net income rose 15.6%.
Competitors to Watch: CNA Financial Corporation (NYSE:CNA), The Chubb Corporation (NYSE:CB), The Travelers Companies, Inc. (NYSE:TRV), W.R. Berkley Corporation (NYSE:WRB), Markel Corporation (NYSE:MKL), American Financial Group (NYSE:AFG), American Intl. Group, Inc. (NYSE:AIG), Old Republic Intl. Corp. (NYSE:ORI), Cincinnati Financial Corp. (NASDAQ:CINF), and RLI Corp. (NYSE:RLI).
Stock Price Performance: During April 29, 2011 to July 26, 2011, the stock price had fallen $3.78 (-8.6%) from $44.19 to $40.41. The stock price saw one of its best stretches over the last year between January 4, 2011 and January 12, 2011 when shares rose for seven-straight days, rising 3.8% (+$1.50) over that span. It saw one of its worst periods between August 17, 2010 and August 26, 2010 when shares fell for eight-straight days, falling 6.8% (-$2.54) over that span. Shares are up $1.62 (+4.2%) year to date.
(Source: Xignite Financials)