L Brands Inc to Post FY2018 Earnings of $3.10 Per Share, Oppenheimer Forecasts (LB)

L Brands Inc (NYSE:LB) – Analysts at Oppenheimer lowered their FY2018 earnings estimates for shares of L Brands in a report released on Thursday. Oppenheimer analyst A. Andreeva now forecasts that the specialty retailer will post earnings per share of $3.10 for the year, down from their prior forecast of $3.15. Oppenheimer currently has a “Buy” rating on the stock. Oppenheimer also issued estimates for L Brands’ Q4 2018 earnings at $2.00 EPS.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. L Brands’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS.

Other research analysts have also recently issued reports about the company. Scotiabank restated a “hold” rating and set a $67.00 target price on shares of L Brands in a report on Wednesday, November 22nd. Telsey Advisory Group restated an “outperform” rating and set a $64.00 target price (up from $60.00) on shares of L Brands in a report on Tuesday, November 28th. Robert W. Baird set a $60.00 target price on L Brands and gave the stock a “hold” rating in a report on Thursday, December 28th. Barclays assumed coverage on L Brands in a report on Tuesday, September 19th. They set an “equal weight” rating and a $41.00 target price on the stock. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $57.00 target price on shares of L Brands in a report on Monday, September 18th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $51.80.

Shares of L Brands (LB) traded up $0.95 during trading on Monday, hitting $48.33. The stock had a trading volume of 4,702,369 shares, compared to its average volume of 7,774,400. The firm has a market cap of $13,640.00, a PE ratio of 14.73, a P/E/G ratio of 1.40 and a beta of 0.81. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10.

L Brands announced that its board has authorized a share 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 reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In other news, Director David T. Kollat bought 9,910 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the transaction, the director now directly owns 158,878 shares in the company, valued at $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.68% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in L Brands by 1.3% in the second quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock valued at $1,037,783,000 after purchasing an additional 256,464 shares during the period. Vanguard Group Inc. increased its position in shares of L Brands by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock worth $885,716,000 after acquiring an additional 495,987 shares during the period. FMR LLC increased its position in shares of L Brands by 2.8% during the second quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock worth $614,558,000 after acquiring an additional 305,365 shares during the period. State Street Corp increased its position in shares of L Brands by 0.3% during the second quarter. State Street Corp now owns 10,388,390 shares of the specialty retailer’s stock worth $559,827,000 after acquiring an additional 33,815 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after acquiring an additional 935,259 shares during the period. 78.68% of the stock is currently owned by institutional investors.

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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.

Earnings History and Estimates for L Brands (NYSE:LB)

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