L Brands, Inc. (NYSE:LB) – Research analysts at B. Riley raised their FY2019 EPS estimates for shares of L Brands in a research report issued on Thursday. B. Riley analyst S. Anderson now expects that the specialty retailer will post earnings per share of $3.52 for the year, up from their prior forecast of $3.51. B. Riley has a “Buy” rating and a $58.00 price target on the stock.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 110.21%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year.
Other analysts also recently issued reports about the stock. Goldman Sachs Group, Inc. (The) set a $59.00 price target on shares of L Brands and gave the stock a “buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada reissued a “hold” rating and set a $55.00 price target on shares of L Brands in a report on Monday, July 24th. Instinet lowered their price target on shares of L Brands from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. Cowen and Company set a $40.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, BidaskClub cut shares of L Brands from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and a consensus price target of $48.11.
Shares of L Brands (NYSE:LB) traded down $1.09 during midday trading on Monday, reaching $49.39. 1,669,504 shares of the company were exchanged, compared to its average volume of 4,227,492. L Brands has a 12-month low of $35.00 and a 12-month high of $75.50. The stock has a market capitalization of $14,330.00, a P/E ratio of 16.08, a PEG ratio of 1.40 and a beta of 0.68. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05.
A number of large investors have recently bought and sold shares of the stock. ICICI Prudential Asset Management Co Ltd grew its position in L Brands by 14.9% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 11,600 shares of the specialty retailer’s stock valued at $483,000 after buying an additional 1,500 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in L Brands in the 3rd quarter valued at $283,000. First Heartland Consultants Inc. purchased a new position in L Brands in the 3rd quarter valued at $832,000. Griffin Asset Management Inc. purchased a new position in L Brands in the 3rd quarter valued at $562,000. Finally, California Public Employees Retirement System grew its position in L Brands by 7.0% in the 3rd quarter. California Public Employees Retirement System now owns 585,641 shares of the specialty retailer’s stock valued at $24,369,000 after buying an additional 38,141 shares during the last quarter. Hedge funds and other institutional investors own 76.63% of the company’s stock.
In other news, Director Allan R. Tessler acquired 20,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were purchased at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the transaction, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.68% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. L Brands’s payout ratio is 73.17%.
L Brands announced that its Board of Directors has approved a stock repurchase program on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
L Brands Company Profile
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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