L Brands (LB) Trading Down 6.3%

L Brands Inc (NYSE:LB)’s share price was down 6.3% during trading on Monday . The stock traded as low as $22.15 and last traded at $22.43. Approximately 5,892,492 shares were traded during trading, an increase of 36% from the average daily volume of 4,348,419 shares. The stock had previously closed at $23.94.

Several equities analysts have commented on LB shares. Zacks Investment Research downgraded shares of L Brands from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Wells Fargo & Co set a $42.00 target price on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, February 28th. Jefferies Financial Group lowered their target price on shares of L Brands from $21.00 to $16.00 in a research report on Thursday, February 28th. B. Riley set a $41.00 target price on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, February 28th. Finally, Barclays raised shares of L Brands from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.35.

The stock has a market cap of $6.13 billion, a PE ratio of 7.96, a PEG ratio of 0.86 and a beta of 0.51.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, February 27th. The specialty retailer reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.08. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.90 billion. L Brands had a negative return on equity of 73.73% and a net margin of 4.86%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $2.11 earnings per share. Research analysts forecast that L Brands Inc will post 2.36 EPS for the current fiscal year.

Several large investors have recently modified their holdings of LB. BlackRock Inc. lifted its stake in shares of L Brands by 2.6% in the fourth quarter. BlackRock Inc. now owns 21,445,945 shares of the specialty retailer’s stock valued at $550,516,000 after buying an additional 535,348 shares during the period. American International Group Inc. lifted its stake in shares of L Brands by 25.4% in the fourth quarter. American International Group Inc. now owns 12,224,858 shares of the specialty retailer’s stock valued at $313,812,000 after buying an additional 2,472,416 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of L Brands by 47.0% in the fourth quarter. Bank of New York Mellon Corp now owns 7,464,698 shares of the specialty retailer’s stock valued at $191,619,000 after buying an additional 2,385,201 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of L Brands by 16.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,782,480 shares of the specialty retailer’s stock valued at $104,321,000 after buying an additional 524,456 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of L Brands by 9.4% in the first quarter. Geode Capital Management LLC now owns 3,258,073 shares of the specialty retailer’s stock valued at $90,218,000 after buying an additional 280,813 shares during the period. 71.24% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “L Brands (LB) Trading Down 6.3%” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://sportsperspectives.com/2019/05/15/l-brands-lb-trading-down-6-3.html.

About L Brands (NYSE:LB)

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

Featured Story: What is Depreciation?

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