Dividend Stocks

The Dividend Daily

Dividend stocks - News, notes, updates, and analysis, delivered fresh daily

Lincoln National’s Q3 Profit Rises, Operating Income Beats View (LNC)

By Dividend.com Staff
October 29th, 2009

lincoln-nationals-q3-profit-rises-operating-income-beats-view-lnc

Insurance and investment services company Lincoln National Corporation (LNC) said Thursday that its third quarter profit rose from last year, despite lower revenue.

The Philadelphia-based company reported third quarter net income of $153.3 million, or 44 cents per share, compared with $148.4 million, or 58 cents per share, in the year-ago period.

Operating income fell to 84 cents per share, while revenue fell 8% from last year, to $2.08 billion. On average, Wall Street analysts expected lower operating income of 76 cents per share, albeit on much higher revenue of $2.44 billion.

Lincoln National shares rose $1.44, or +6.5%, in premarket trading Thursday.

The Bottom Line
We had removed shares of LNC back last Sept.29, when the stock traded at $49.00. The company has a .18% dividend yield, based on last night’s closing stock price of $22.25. The stock has technical support in the $18-$20 price area. If the shares can continue its recent momentum, we see overhead resistance around the $26-$27 price levels. We would remain on the sidelines for now.

Lincoln National Corporation (LNC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Comments on this Article COMMENTS ON THIS ARTICLE

Leave a Reply

Your Comments:

Please type the Security Words below:

About This Article ABOUT THIS ARTICLE

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.