An issue of L Brands, Inc. (NYSE:LB) bonds rose 1% against their face value during trading on Thursday. The high-yield issue of debt has a 6.875% coupon and will mature on November 1, 2035. The bonds in the issue are now trading at $95.27 and were trading at $94.00 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
A number of research analysts have commented on the company. Zacks Investment Research cut L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday. FBR & Co restated an “outperform” rating and set a $60.00 price target on shares of L Brands in a research note on Wednesday, May 31st. Vetr upgraded L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price target on the stock in a research note on Monday, June 19th. BMO Capital Markets set a $37.00 price target on L Brands and gave the stock a “market perform” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation decreased their price target on L Brands from $35.00 to $32.00 and set an “underperform” rating on the stock in a research note on Friday, August 18th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company’s stock. L Brands has an average rating of “Hold” and a consensus price target of $48.73.
Shares of L Brands, Inc. (NYSE LB) opened at 36.56 on Friday. The stock’s 50 day moving average is $42.41 and its 200 day moving average is $49.04. L Brands, Inc. has a 52 week low of $35.00 and a 52 week high of $77.55. The firm has a market cap of $10.49 billion, a P/E ratio of 10.73 and a beta of 0.62.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.04%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The business’s revenue was down 4.7% on a year-over-year basis. On average, equities research analysts predict that L Brands, Inc. will post $3.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio is 70.38%.
Institutional investors have recently made changes to their positions in the stock. First Personal Financial Services boosted its stake in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares during the period. FNY Partners Fund LP purchased a new stake in shares of L Brands during the first quarter worth about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of L Brands during the first quarter worth about $142,000. IFP Advisors Inc boosted its stake in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the period. Institutional investors own 75.20% 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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
