Loews Is A Good Buy: Barron’s (L)

Loews Corp. (NYSE: L) has posted impressive first quarter numbers. According to Barron’s, the conglomerate has reported earnings of 99 cents per share, beating the street estimates. Loews draws more than 50 percent of its earnings from insurance company CAN (NYSE: CNA).

CNA also posted good quarterly results with an EPS of 82 cents. It also conveniently surpassed analysts’ estimates of 65 cents. Reuters has reported that Loews also holds stakes in various energy companies.

Loews stock is currently trading below the net-asset value of its public holdings. The company is also keen on repurchasing its stock. In recent past, it has bought 6.8 million of its own shares for $250 million.