Line (LN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Line (NYSE:LN) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “LINE Corporation develops and operates the LINE application for smartphones. It offers messenger services which include free messages, voice calls and video calls. The company also provides communication and content sales and advertising services through LINE advertising, livedoor blog, and NAVER Matome Web portals. LINE Corporation is based in Tokyo, Japan. “

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group set a $3,500.00 price objective on shares of Line and gave the company a buy rating in a research report on Tuesday, March 26th. Credit Suisse Group lowered shares of Line from a neutral rating to an underperform rating in a research report on Thursday, March 14th. Evercore ISI assumed coverage on shares of Line in a research report on Monday, February 25th. They set an outperform rating on the stock. Goldman Sachs Group lowered shares of Line from a neutral rating to a sell rating in a research report on Friday, February 8th. Finally, ValuEngine lowered shares of Line from a buy rating to a hold rating in a research report on Monday, February 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $3,500.00.

Shares of LN opened at $30.18 on Thursday. The company has a market cap of $7.20 billion, a P/E ratio of -188.63 and a beta of 1.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.36 and a current ratio of 2.40. Line has a twelve month low of $27.66 and a twelve month high of $46.48.

Line (NYSE:LN) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported ($0.05) earnings per share for the quarter. The business had revenue of $455.95 million for the quarter. Line had a negative net margin of 1.58% and a negative return on equity of 2.52%. Analysts predict that Line will post -0.95 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of Line by 2.4% in the first quarter. Macquarie Group Ltd. now owns 848,000 shares of the technology company’s stock valued at $29,858,000 after purchasing an additional 20,043 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Line in the first quarter worth $206,000. Renaissance Technologies LLC grew its stake in shares of Line by 42.5% in the first quarter. Renaissance Technologies LLC now owns 58,700 shares of the technology company’s stock worth $2,067,000 after acquiring an additional 17,500 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Line by 80.8% in the first quarter. ARK Investment Management LLC now owns 7,166 shares of the technology company’s stock worth $252,000 after acquiring an additional 3,203 shares during the last quarter. Finally, CSat Investment Advisory L.P. acquired a new stake in shares of Line in the first quarter worth $1,801,000. 3.40% of the stock is currently owned by institutional investors.

About Line

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.

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