Zacks Investment Research upgraded shares of Leucadia National Corporation (NYSE:LUK) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $28.00 target price on the conglomerate’s stock.
According to Zacks, “Leucadia’s performance in the debt capital market has improved with solid contribution from equity capital markets, advisory activities and a favorable sales and trading environment. With significant margin contribution from National Beef and other businesses, Leucadia remains well positioned to grow. The company’s businesses have separate revenue streams that move according to their own cycle and mitigate operating risks. A pro-growth business environment with a lower corporate tax structure should bode well for the economy and financial markets in general and Jefferies in particular. In addition, Trump’s plan to spend $1 trillion in infrastructure projects over a period of 10 years and regulatory rollbacks augur well. The company also outperformed the industry year to date. However, high network maintenance costs to prevent any intrusion and data theft of confidential client information strain margins for the company.”
Separately, BidaskClub upgraded shares of Leucadia National Corporation from a sell rating to a hold rating in a research note on Tuesday, June 13th.
Leucadia National Corporation (NYSE:LUK) last announced its earnings results on Thursday, July 27th. The conglomerate reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.14). The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.65 billion. Leucadia National Corporation had a net margin of 5.94% and a return on equity of 6.27%. Leucadia National Corporation’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Leucadia National Corporation’s previous quarterly dividend of $0.06. Leucadia National Corporation’s dividend payout ratio (DPR) is currently 23.67%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new position in shares of Leucadia National Corporation in the first quarter worth $202,000. Savant Capital LLC purchased a new position in shares of Leucadia National Corporation in the second quarter worth $202,000. Eagle Global Advisors LLC purchased a new position in shares of Leucadia National Corporation in the second quarter worth $219,000. Two Sigma Securities LLC purchased a new position in shares of Leucadia National Corporation in the first quarter worth $227,000. Finally, Profund Advisors LLC purchased a new position in shares of Leucadia National Corporation in the second quarter worth $239,000. 74.66% of the stock is owned by institutional investors and hedge funds.
Leucadia National Corporation Company Profile
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
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