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Loews Corporation (L), headquartered in New York, is a diversified holding company with interests in multiple industries. With a market cap of $17.39 billion, Loews operates in the insurance, energy, hospitality, and packaging sectors.
Companies valued at $10 billion or more are classified as "large-cap" stocks, and Loews Corporation exemplifies this, demonstrating its substantial scale and influence across multiple industries. The company’s strategic investments and financial strength enable it to support its subsidiaries and stakeholders while contributing to its strong position in the global market.
L shares are trading 6% below their 52-week high of $83.54, which they hit on Jul 29. The stock has gained 2.7% over the past three months, underperforming the iShares U.S. Financial Services ETF’s (IYG) 9.4% gain over the same time frame.
In the longer term, L is up 12.9% on a YTD basis, and the shares have gained 20.9% over the past 52 weeks. The IYG has gained 19.5% in 2024 and 32.6% over the past year.
To confirm its bearish trend, CPAY has been trading below its 50-day moving average recently. However, it has been trading above its 200-day moving average over the past year.
Shares of Loews surged 2% after the release of its Q2 earnings on Jul. 29. The company saw a 2.5% year-over-year increase in profit to $1.67 per share, fueled by higher insurance premiums and an 8% rise in investment income.
Highlighting the contrast in performance, rival Walmart Inc. (WMT) has outperformed L and IYG, with a 50.7% gain on a YTD basis.
Despite L's recent underperformance compared to the IYG, analysts are moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy" from one analyst in coverage. The mean price target is $183, suggesting a premium of 133% to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
