L Brands Inc (NYSE:LB) – Research analysts at B. Riley upped their Q4 2019 earnings estimates for shares of L Brands in a report issued on Thursday, according to Zacks Investment Research. B. Riley analyst S. Anderson now anticipates that the specialty retailer will post earnings per share of $2.26 for the quarter, up from their prior forecast of $2.13. B. Riley currently has a “Buy” rating and a $58.00 target price on the stock. B. Riley also issued estimates for L Brands’ FY2020 earnings at $3.62 EPS.
Several other equities research analysts also recently commented on LB. Loop Capital assumed coverage on shares of L Brands in a research note on Thursday, March 8th. They issued a “hold” rating and a $45.00 target price on the stock. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “sell” rating in a research note on Wednesday. Robert W. Baird restated a “buy” rating on shares of L Brands in a research note on Wednesday, March 7th. Cowen set a $45.00 target price on shares of L Brands and gave the company a “hold” rating in a research note on Thursday, March 1st. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of L Brands in a research note on Thursday, March 1st. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.33.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.06. L Brands had a net margin of 7.78% and a negative return on equity of 96.25%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the company earned $2.03 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year.
Large investors have recently made changes to their positions in the business. Fosun International Ltd increased its stake in shares of L Brands by 205.4% in the 3rd quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock valued at $22,137,000 after acquiring an additional 357,797 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of L Brands by 4.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 855,019 shares of the specialty retailer’s stock valued at $35,577,000 after acquiring an additional 33,005 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of L Brands by 31.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,512 shares of the specialty retailer’s stock valued at $770,000 after acquiring an additional 4,378 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of 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 acquiring an additional 38,141 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of L Brands by 74.8% in the 4th quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock valued at $628,512,000 after acquiring an additional 4,466,237 shares during the last quarter. 81.05% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.40 annualized dividend and a yield of 5.81%. L Brands’s dividend payout ratio is currently 69.77%.
L Brands announced that its Board of Directors has approved a share repurchase plan on Thursday, March 8th that authorizes the company to repurchase $226.90 million in shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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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.
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