L Brands, Inc. (NYSE:LB) had its target price cut by Buckingham Research from $62.00 to $52.00 in a report issued on Friday. They currently have a buy rating on the specialty retailer’s stock.
Several other equities analysts have also recently commented on LB. FBR & Co reissued an outperform rating and set a $60.00 target price on shares of L Brands in a research note on Thursday, April 6th. Cowen and Company reaffirmed a buy rating and issued a $56.00 price objective on shares of L Brands in a research note on Thursday, April 6th. Jefferies Group LLC reaffirmed a sell rating and issued a $35.00 price objective on shares of L Brands in a research note on Thursday, April 6th. Instinet reissued a neutral rating and issued a $48.00 target price (down from $52.00) on shares of L Brands in a research report on Sunday, April 9th. Finally, Oppenheimer Holdings, Inc. set a $62.00 target price on shares of L Brands and gave the stock a buy rating in a research report on Saturday, April 8th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. L Brands currently has an average rating of Hold and an average target price of $56.05.
L Brands (NYSE:LB) traded up 4.09% on Friday, reaching $43.30. 6,531,829 shares of the company’s stock were exchanged. L Brands has a 1-year low of $41.92 and a 1-year high of $79.67. The stock’s 50 day moving average price is $48.88 and its 200 day moving average price is $51.51. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 11.40 and a beta of 0.62.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts expect that L Brands will post $3.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.54%. L Brands’s dividend payout ratio is presently 63.16%.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares in the company, valued at $3,698,163.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 16.45% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. Lincoln National Corp boosted its position in L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock worth $1,668,000 after buying an additional 12,045 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock worth $1,129,000 after buying an additional 18,575 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in L Brands during the first quarter worth about $1,681,000. Finally, Coronation Fund Managers Ltd. boosted its position in L Brands by 18.1% in the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock worth $52,045,000 after buying an additional 148,076 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.
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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