53.84 0.00 (0.00%)
After hours: 5:19PM EDT
|Bid||54.08 x 1100|
|Ask||53.96 x 800|
|Day's Range||53.81 - 54.60|
|52 Week Range||42.06 - 56.20|
|Beta (3Y Monthly)||0.61|
|PE Ratio (TTM)||23.00|
|Earnings Date||Aug 5, 2019|
|Forward Dividend & Yield||0.25 (0.46%)|
|1y Target Est||55.00|
HOUSTON , July 16, 2019 /PRNewswire/ -- Diamond Offshore Drilling, Inc. ( NYSE: DO ) announced today that it will issue a press release and host a conference call and webcast related to its second quarter ...
NEW YORK , July 16, 2019 /PRNewswire/ -- Loews Corporation (NYSE: L) will report second quarter 2019 financial results on Monday, August 5, 2019. The conference call for investors will begin at 11:00 ...
The S&P 500 is up 20% year to date through July 11. It's a big reason why Morgan Stanley downgraded global stocks from equal weight to underweight. The stocks to buy are few and far between.In fact, Morgan Stanley's chief investment officer Mike Wilson believes the S&P 500 will gain 1% over the next 12 months in the best-case scenario and lose 7.6% in the worst. Therefore, the idea of finding stocks to buy for less than book seems like an absolute impossibility given the state of the markets. InvestorPlace - Stock Market News, Stock Advice & Trading TipsNonetheless, I did a screen to find value stocks based on book value. I was able to find 160 stocks with a market cap of $2 billion or more that were trading for less than book value. Of those, 31 belonged to the S&P 500. * 10 Stocks to Sell for an Economic Slowdown To make things interesting, I'm going to recommend 10 stocks to buy for less than book value; five from the S&P 500 and five outside the index. May the best value stocks win. Stocks to Buy: Molson Coors (TAP)Molson Coors (NYSE:TAP), the maker of beers such as Coors Light, Miller High Life and Molson Canadian, currently trades at 0.89 times book value. It has a total return year to date of 0.94%. Molson Coors entered into a 50/50 joint venture with Hexo (NYSEAmerican:HEXO), a Montreal-based cannabis company, in August 2018. In June, TAP detailed its plans for cannabis-infused drinks for the Canadian market. Plans include selling multiple types of beverages the day (December 16) derivative cannabis products such as cannabis-infused drinks, edibles, and concentrates can be legally sold. "We'll have a very large supply so we'll be in a good position to be able to meet the demand of the marketplace and at the same time also ensure that we're meeting the variety that the marketplace wants," Jay McMillan, Hexo's vice president of strategic development said at the World Cannabis Congress recently. In my opinion, edibles and drinks are going to be much bigger than the sale of dried flower within 2-3 years. Molson Coors has an inside track. News Corp. (NWSA)News Corp. (NASDAQ:NWSA), the news and publishing arm of Rupert Murdoch's empire, currently trades at 0.84 times book value. It has a total return year to date of 18%.Lachlan Murdoch, who is the CEO of News Corp., recently discussed how the company is focusing on opportunities that revolve around live content to survive in the digital age. "Of the advertising revenue, the remarkable statistic is that 70% of that revenue is derived from live television, and the reason that we've structured a company for that is because… when we are talking absolutely instantaneous live news, sports, opinion is where these people aren't delaying; they're highly engaged. As media gets more fragmented, the value of live is only increasing," Murdoch stated at the Cannes Lions festival in June. * 7 Retail Stocks to Buy for the Second Half of 2019 The Murdochs might have sold off a significant chunk of their assets, but the ones it still has are likely worth a lot more than people are valuing them. Loews (L)Loews (NYSE:L), the New York-based holding company that once controlled CBS (NYSE:CBS), currently trades at 0.89 times book value. It has a total return year to date of 22.3%. Loews is having a year in the markets unlike any it's had in a very long time, yet you can still buy its stock for less than book value. Loews' holdings are a combination of public and private entities. It's a sum-of-the-parts is worth more than the current valuation type of story. Currently run by James Tisch, Loews biggest holding is an 89% stake in commercial property and casualty insurer CNA Financial (NYSE:CNA). As of March 31, Loews stake was worth $10.5 billion. Its current market cap is $16.8 billion. In addition to CNA, it owns 53% of offshore driller Diamond Offshore Drilling (NYSE:DO), a holding that's seen significant deterioration in the past few years. Currently trading below $10, DO traded as high as $50 in 2014. The stake in DO alone makes Loews stock a good buy below book value. Kraft Heinz (KHC)Kraft Heinz (NASDAQ:KHC), the food conglomerate 27% owned by Warren Buffett, currently trades at 0.74 times book value. It has a total return year to date of -25.4%. I have not been a fan of Kraft Heinz in large part because of its slash-and-burn style of running businesses. That said, I did offer up KHC stock in February as a good contrarian play. The caveat was that certain things needed to happen before its stock got higher. Those changes included paying down debt, getting rid of 3G Capital as a major owner of the company, and upping its innovation game. To date, it hasn't done much to meet my seven suggestions, except to replace former CEO Bernardo Hees with Miguel Patricio, the former chief marketing offer at Anheuser-Busch InBev (NYSE:BUD), another of 3G Capital's investments. It's too early to say if Patricio can move the needle. * 10 Best Stocks for 2019: A Volatile First Half However, you can bet Warren Buffett's going to do everything he can to turn around one of his worst investments to date. Marathon Oil (MRO)Marathon Oil (NYSE:MRO), the independent Houston-based upstream oil and gas company, currently trades at 0.93 times book value. It has a total return year to date of -2.4%. It has been eight years since Marathon Oil spun-off its refining business to focus on exploration and production. In that time, its stock has lost approximately 43% of its value. In 2011, it traded at 1.23 times book value. Today, its multiple is 26% lower. It might not trade at 0.44 times book as it did in 2015, but it's still pretty darn cheap. On July 1, MRO closed on the sale of its UK business so it could focus on its properties in the U.S. Over the past five years it has sold operations in 10 countries, leaving only its LNG operations in Equatorial Guinea as its only operating unit outside the U.S. Switching its focus to low-risk, high-return investments in four of the major shale plays in the U.S., Marathon is looking to grow its output by 12% in the U.S. in 2019. Fiat Chrysler (FCAU)Fiat Chrysler (NYSE:FCAU), the eighth-biggest car and truck manufacturer, currently trades at 0.96 times book value. It has a total return year to date of almost 12.0%. In late May, Fiat Chrysler made headlines by proposing it merge with France-based Renault (OTCMKTS:RNLSY). The merger would have made it the world's third-largest automotive company. Fiat Chrysler called it off, but there is speculation merger talks might restart at some point. However, despite calling off the merger, Fiat Chrysler managed to deliver its best June U.S. monthly sales report in 14 years with its Ram trucks leading the way growing by 45% year over year. That offset weaker sales of its other brands, including a 12% drop in Jeep sales. * 7 A-Rated Stocks to Buy for the Rest of 2019 Cheaper than most of its automotive peers, I believe that FCAU stock has the best potential upside with or without Renault. Park Hotels (PK)Park Hotels & Resorts (NYSE:PK), the second-largest publicly traded lodging REIT, currently trades at 0.99 times book value. It has a total return year to date of 9.7%. Park Hotels recently announced that it was selling three non-core hotels in Atlanta, New Orleans, and Parsippany, New Jersey, for gross proceeds of $166 million or $151,000 per key. PK is doing so to reduce the amount of debt it has taken on to buy Chesapeake Lodging Trust (NYSE:CHSP), a $2.7 billion acquisition it announced in early May. The deal will create a hotel owner with 66 high-quality hotels in 17 states and the District of Columbia. More importantly, for PK shareholders, it improves the REITs RevPAR by 4% to $182 with an EBITDA margin that's 60 basis points higher at 29.7%.Park Hotels was spun-off by its former parent, Hilton Worldwide (NYSE:HLT), in large part so that it could go its holdings separate from the hotel operations. While its stock hasn't done much since the 2017 spinoff, the move to buy Chesapeake should change that in the next 12-24 months. AerCap Holdings (AER)AerCap Holdings (NYSE:AER), the world leader in commercial aircraft leasing, currently trades at 0.79 times book value. It has a total return year to date of 26.7%. Although Boeing (NYSE:BA) announced a third consecutive month with no new 737 MAX orders July 9, AerCap is unlikely to be hurt by the ongoing grounding of Boeing's bestselling aircraft. On July 8, AerCap accounted for the company's major transactions during the quarter. According to its press release, AerCap signed lease agreements for 48 aircraft in the second quarter, purchased 11 aircraft, sold 23 aircraft, and signed financing transactions for $1.5 billion.AerCap makes money by buying planes and leasing them to airlines and other users of commercial aircraft. It owned 1,421 aircraft at the end of March with an average remaining lease term of 7.4 years, and a cost of credit of approximately 1% of its annual lease revenues. * 7 Retail Stocks to Buy That Are Down in 2019 It's been profitable for the past 12 years.As people travel farther and more often, AerCap is bound to benefit from the need for new aircraft. Taylor Morrison Home (TMHC)Taylor Morrison Home (NYSE:TMHC) currently trades at 0.94 times book value. It has a total return year to date of 33.9%. Based in Arizona, the homebuilder operates in eight different states including Arizona, Texas, and Florida. Recently, Taylor Morrison announced plans for a 1,750-home community in Sarasota, Florida. The master-planned development called Azario at Lakewood Ranch will include an 18-hole golf course, wellness and culinary centers, and even a lifestyle manager to help residents plan parties and special events. In fiscal 2018, Taylor Morrison closed on 8,760 homes, a 9% increase over a year earlier, generating $4.2 billion in revenue and making approximately 18.2% of the home price of every sale. The company finished 2018 with 6,014 homes in its inventory, 38% higher than a year earlier. As it continues to close on this inventory, investors can expect its revenue and earnings to grow significantly.As long as the economy remains strong, its stock from a price-to-book perspective is cheaper than it has been in several years. DuPont (DD) DuPont (NYSE:DD) currently trades at 0.56 times book value. It has a total return year to date of -12.4%.DuPont is one of three companies created by the DowDuPont spinoffs that took place in April and June. More than three years in the making, the DuPont businesses leftover after spinning off both Corteva (NYSE:CTVA) and Dow (NYSE:DOW) are generally of above-average quality and should be able to keep growing.However, before it's able to focus on the future, it needs to sell off some assets that don't fit into its plans. DuPont has already found assets generating $2 billion in annual revenues to sell; the proceeds of which can be reinvested in businesses with greater potential. Bank of America Merrill Lynch analyst Steve Byrne recently initiated coverage of DuPont giving it a "buy" rating and a $76 target price. Currently trading at $70, I believe the analyst is conservative in his price target. The average of 25 analysts covering its stock is $83.34. A total of 16 analysts have a buy or overweight rating on its stock. It's early in the DowDupont spinoffs, but I see good things happening from the lengthy process to deliver value for its shareholders. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell for an Economic Slowdown * 7 Marijuana Penny Stocks That I May Buy * 7 of The Best Schwab ETFs for Low Fees The post 10 Stocks to Buy for Less Than Book appeared first on InvestorPlace.
Loews Corp NYSE:LView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for L with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting L. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $4.32 billion over the last one-month into ETFs that hold L are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. Although L credit default swap spreads are decreasing, they remain near their highest levels of the last 3 years, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
Chances are you've heard of Warren Buffett's conglomerate Berkshire Hathaway (BRK.A). But you may not have heard of its much-smaller doppelganger company called Loews Corporation (L), asserts Mike Larson, editor of Under the Radar Stocks.
Moody's Investors Service ("Moody's") affirmed the B2 Corporate Family Rating and B2-PD Probability of Default Rating of Consolidated Container Company LLC (New) (CCC). The proceeds will be used to acquire Tri State Distribution in an all debt financed transaction and to pay down the ABL Facility. Tri State Distribution designs and manufactures vials, caps, and labels, with digital printing capabilities for the pharmaceutical packaging industry.
Is Loews Corporation (NYSE:L) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before doing days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds have […]
It wasn't exactly head-turning news from Netflix (NASDAQ:NFLX). The streaming giant just hired Spencer Klein as its director of theatrical distribution of its movies. Indeed, it's unlikely that most owners of NFLX stock know or care about it. Like so many announcements, this one looked and felt boilerplate, serving more as a courtesy or maybe even required disclosure.Source: Via NetflixSome experts even commented that Klein's arrival changes nothing about the company's current business model. Essentially, he's only filling a position left open by the untimely death of his predecessor, Andy Guenberg.Some substance might exist from this news though. And if there is, not only will an ongoing debate heat up, it could mean Netflix has ambitions that don't include your television or tablet.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Who's Spencer Klein?Klein's pedigree is at least curious. Displaced by the Walt Disney (NYSE:DIS) acquisition of Fox, Klein nevertheless has serious executive experience. He's worked for New Line Cinema, Loews (NYSE:L), The Weinstein Co and The Film Group. These are organizations on both sides of the movie business. And on the surface, this experience benefits Netflix stock. * 7 S&P 500 Dividend Stocks to Buy That Yield 4% or More Inasmuch as he's replacing Guenberg rather than assuming a newly created position, it would be easy to assume Netflix's interest in releasing films in actual theaters remains seemingly modest. The optics suggest that the company is merely angling for industry awards.Klein wasn't the only new hire that bolsters this aspect of the company's operation, however. Former Warner Bros distribution chief Dan Fellman, who consulted with Netflix on the theatrical release of Roma, is still around doing other similar work. The streaming firm also brought in Lions Gate Entertainment (NYSE:LGF.A, NYSE:LGF.B) distribution expert Lori Bandazian.It's an awful lot of veteran firepower for just seeking enough theatrical exposure to qualify for Oscars. Netflix Stock Runs Up Against a Complicated AristocracyThe moves set the stage for another chapter of what has become something of a saga within the film world.The short version of a long story: to qualify for an Academy Award of any sort, tradition dictates that a film must play for seven consecutive days in a theater located in Los Angeles. But tradition also holds that a movie theater won't play a movie unless the film studio guarantees distribution exclusivity. In other words, a studio cannot show the film in another format for at least 90 days. Most theater chains are still holding fast to this norm.It's a framework that leaves NFLX stock in a proverbial no-man's land. It doesn't want to offer three-month exclusivity (most Netflix films, while quality flicks, aren't exactly high-volume draws). But it does want the credibility that winning Oscars delivers.The rules have been bent, to be clear, if not outright broken. Roma was exclusively in theaters for three weeks before Netflix's streaming customers could view it. Though it did win some awards, it was ineligible for the "Best Picture" award due to surprisingly technical rules.Solution? Buy a theater to release your own films in, circumventing Hollywood's securely closed logistical gates.Amazon.com (NASDAQ:AMZN) is reportedly mulling the idea, eyeing Landmark Theatres, which owns roughly 250 screens spanning 27 markets. Rumors indicate that Netflix is adopting the same game plan. Industry insiders suggest that NFLX is targeting the Egyptian Theatre in Los Angeles.Almost needless to say, some of Hollywood's elite traditionalists -- like Steven Spielberg - have voiced their strong opposition. Though this maneuvering may not violate law, it certainly violates the intent of the industry's norms. Looking Ahead for NFLX StockThat's where Klein (and Fellman, Bandazian, and others) come back into the picture. They can potentially navigate Hollywood's tricky waters to help push Netflix-branded films to satisfy archaic requirements for award considerations. As such, these execs provide another angle for the bull case for Netflix stock.On the other hand, management may want to transition Netflix into a more traditional movie studio role. Such a move could jumpstart its films that would find this platform conducive. It would also fundamentally change NFLX stock: the theatres would become the profit center rather than subscriptions to digitally delivered streaming content.Or another scenario exists: perhaps the growing crew of theatrical-release experts are developing a strategy that obliterates long-standing norms for award eligibility. This too would change the dynamics for Netflix stock.Whatever's in the cards, the contentious matter clearly isn't going away. It's going to come to an explosive head one way or another. For that reason alone, it's a matter current and prospective owners of NFLX stock may want to keep tabs on.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 S&P 500 Dividend Stocks to Buy at Least Yielding 3% * 7 Stocks to Buy That Don't Care About Tariffs * 5 Healthcare Stocks to Pick Up From the Wreckage Compare Brokers The post New Hire Could Fundamentally Change Netflix's Film Arm appeared first on InvestorPlace.
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...
The apparent winning firm in the Memphis convention center hotel wars claimed in court June 4 that it never promised anything to its former partner.
Universal Orlando Resort's latest hotel set to open later this year will serve up unique dishes in its restaurants. The Universal Endless Summer Resort, which on June 27 opens the 750-room Surfside Inn & Suites, has given a peek at the menu of one of the eateries on site called the Beach Break Cafe. Universal said the Beach Break Cafe will have "surfer-inspired dishes, featuring Southern California flavors and fresh ingredients" and also pays homage to food trucks and backyard barbecue.
The hotel at Universal Orlando Resort introduced a new offering this spring, blending the popular Sunday brunch meal with good music.
NEW YORK , May 24, 2019 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today that James S. Tisch , Chief Executive Officer, will participate in the Bernstein Strategic Decisions Conference in New ...
Jan Kniffen, CEO of J. Rogers Kniffen W.W.E., joins "Squawk Box" to discuss the big week ahead for retail earnings.