Line (NYSE:LN) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Line (NYSE:LN) from a hold rating to a buy rating in a research note released on Tuesday morning, ValuEngine reports.

Several other equities research analysts have also issued reports on LN. Jefferies Financial Group reissued a buy rating on shares of Line in a report on Friday, March 15th. Zacks Investment Research raised shares of Line from a sell rating to a hold rating in a report on Thursday, March 21st. Finally, Goldman Sachs Group raised shares of Line from a sell rating to a neutral rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $3,500.00.

NYSE LN opened at $29.07 on Tuesday. Line has a 52 week low of $27.04 and a 52 week high of $46.48. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -181.69 and a beta of 1.18. The company has a quick ratio of 2.36, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The company’s 50-day simple moving average is $29.11.

Line (NYSE:LN) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported ($0.05) EPS for the quarter. Line had a negative net margin of 1.58% and a negative return on equity of 2.52%. The business had revenue of $455.95 million for the quarter. As a group, analysts forecast that Line will post -2.01 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in LN. Matthews International Capital Management LLC boosted its stake in Line by 567.3% in the 1st quarter. Matthews International Capital Management LLC now owns 1,913,100 shares of the technology company’s stock worth $67,360,000 after purchasing an additional 1,626,400 shares during the period. Hillhouse Capital Advisors Ltd. bought a new position in Line in the 4th quarter worth approximately $41,197,000. Coronation Fund Managers Ltd. bought a new position in Line in the 1st quarter worth approximately $5,275,000. Henry James International Management Inc. boosted its stake in Line by 67.5% in the 1st quarter. Henry James International Management Inc. now owns 144,320 shares of the technology company’s stock worth $5,082,000 after purchasing an additional 58,149 shares during the period. Finally, CSat Investment Advisory L.P. bought a new position in Line in the 1st quarter worth approximately $1,801,000. 3.32% of the stock is owned by institutional investors.

Line Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables 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.

Recommended Story: The risks of owning bonds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Line (NYSE:LN)

Receive News & Ratings for Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Line and related companies with MarketBeat.com's FREE daily email newsletter.