L Brands Inc (NYSE:LB) received a $35.00 price objective from analysts at Jefferies Group LLC in a research note issued to investors on Friday. The firm presently has a “sell” rating on the specialty retailer’s stock. Jefferies Group LLC’s price objective indicates a potential downside of 29.56% from the company’s current price.
A number of other research analysts have also weighed in on the stock. Vetr upgraded shares of L Brands from a “buy” rating to a “strong-buy” rating and set a $69.56 price objective for the company in a research note on Thursday, January 26th. Buckingham Research reiterated a “buy” rating on shares of L Brands in a research note on Wednesday, April 26th. Zacks Investment Research lowered shares of L Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Pacific Crest lowered shares of L Brands to a “sell” rating in a research note on Tuesday, April 4th. Finally, Cowen and Company reiterated a “buy” rating and issued a $56.00 price objective on shares of L Brands in a research note on Thursday, April 6th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. L Brands currently has an average rating of “Hold” and a consensus price target of $58.82.
Shares of L Brands (NYSE:LB) traded down 1.41% during midday trading on Friday, hitting $48.99. The company had a trading volume of 4,741,887 shares. L Brands has a 12-month low of $43.04 and a 12-month high of $79.67. The company’s 50-day moving average price is $49.41 and its 200 day moving average price is $58.39. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 12.91 and a beta of 0.82.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business earned $0.59 EPS. L Brands’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts predict that L Brands will post $3.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.83%. L Brands’s dividend payout ratio is presently 60.61%.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the sale, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.45% of the company’s stock.
A number of hedge funds have recently bought and sold shares of LB. Teachers Advisors LLC boosted its position in L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock worth $19,647,000 after buying an additional 18,142 shares during the last quarter. Three Peaks Capital Management LLC boosted its position in L Brands by 3.3% in the third quarter. Three Peaks Capital Management LLC now owns 73,364 shares of the specialty retailer’s stock worth $5,192,000 after buying an additional 2,364 shares during the last quarter. Kentucky Retirement Systems purchased a new position in L Brands during the fourth quarter worth about $1,148,000. Lombard Odier Asset Management Europe Ltd purchased a new position in L Brands during the third quarter worth about $234,000. Finally, Prudential PLC boosted its position in L Brands by 9.0% in the fourth quarter. Prudential PLC now owns 332,499 shares of the specialty retailer’s stock worth $21,892,000 after buying an additional 27,460 shares during the last quarter. 74.20% of the stock is owned by institutional investors and hedge funds.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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