Zacks Investment Research Lowers Line (NYSE:LN) to Sell

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Line (NYSE:LN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, 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 research analysts have also recently commented on the company. Jefferies Financial Group set a $3,500.00 price target on Line and gave the company a “buy” rating in a report on Tuesday, March 26th. Credit Suisse Group cut Line from a “neutral” rating to an “underperform” rating in a report on Thursday, March 14th. Finally, Evercore ISI started coverage on Line in a report on Monday, February 25th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3,500.00.

Shares of Line stock opened at $28.64 on Thursday. Line has a 12 month low of $27.66 and a 12 month high of $46.48. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -179.00 and a beta of 1.33. The company has a quick ratio of 2.36, a current ratio of 2.40 and a debt-to-equity ratio of 0.88.

Line (NYSE:LN) last posted 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 company had revenue of $455.95 million during the quarter. As a group, equities research analysts anticipate that Line will post -2.01 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. increased its stake in Line by 222.4% during the fourth quarter. Citigroup Inc. now owns 1,983 shares of the technology company’s stock worth $68,000 after acquiring an additional 1,368 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Line by 135.0% during the first quarter. Quadrant Capital Group LLC now owns 4,179 shares of the technology company’s stock worth $143,000 after acquiring an additional 2,401 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Line by 62.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,320 shares of the technology company’s stock worth $181,000 after acquiring an additional 2,052 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Line during the first quarter worth $206,000. Finally, ARK Investment Management LLC increased its stake in Line by 80.8% during 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. 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 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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Analyst Recommendations for Line (NYSE:LN)

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