Lincoln National (NYSE:LNC) Announces Quarterly Earnings Results, Beats Estimates By $0.42 EPS

by · The Markets Daily

Lincoln National (NYSE:LNC – Get Free Report) announced its earnings results on Thursday. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.42, Briefing.com reports. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS.

Lincoln National Price Performance

Shares of NYSE:LNC traded down $1.23 during trading on Friday, reaching $33.52. 2,496,909 shares of the company’s stock traded hands, compared to its average volume of 1,645,596. The firm has a market cap of $5.71 billion, a PE ratio of 23.94, a P/E/G ratio of 0.32 and a beta of 1.81. Lincoln National has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The company has a 50-day simple moving average of $31.68 and a 200-day simple moving average of $31.09.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.45 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.37%. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

Analysts Set New Price Targets

LNC has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Morgan Stanley cut their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Barclays increased their price objective on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. StockNews.com cut Lincoln National from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Piper Sandler decreased their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.00.

Read Our Latest Research Report on Lincoln National

About Lincoln National

(Get Free Report)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.

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