Loews Corporation Beats Earnings Estimates (L)

New York based commercial property and casualty insurance company Loews Corporation L on Monday morning released financial results that beat Wall Street earnings expectations, while missing revenue estimates. Loews Corporation reported that its 3rd quarter net income fell to $36 million, or 9 cents per share, down from $468 million, or $1.08 per share, a year earlier. Income from continuing operations came in at 13 cents per share. Revenue fell to $3.7 billion, down from $3.74 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 1 cent per share, on revenue of $3.8 billion. Loews Corporation (L) ended the previous trading session at $39.49 per share. Analysts covering the company's stock have a consensus price target of $40 per share. Read more from Benzinga's Company news.