Brokers Set Expectations for L Brands Inc.’s Q3 2018 Earnings (LB)
L Brands Inc. (NYSE:LB) – Analysts at FBR & Co raised their Q3 2018 earnings per share (EPS) estimates for L Brands in a report issued on Friday. FBR & Co analyst S. Anderson now expects that the firm will post earnings of $0.50 per share for the quarter, up from their previous estimate of $0.49. FBR & Co has a “Hold” rating and a $75.00 price target on the stock. FBR & Co also issued estimates for L Brands’ FY2018 earnings at $4.01 EPS.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The firm earned $2.89 billion during the quarter. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis.
Several other research analysts have also recently weighed in on LB. Nomura reissued a “hold” rating on shares of L Brands in a report on Saturday, July 9th. Robert W. Baird set a $80.00 target price on shares of L Brands and gave the company a “neutral” rating in a report on Friday, September 2nd. Deutsche Bank AG reaffirmed a “buy” rating on shares of L Brands in a report on Sunday, July 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $90.00 target price on shares of L Brands in a report on Saturday, September 3rd. Finally, MKM Partners reaffirmed a “neutral” rating and set a $60.00 target price on shares of L Brands in a report on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $77.95.
L Brands (NYSE:LB) opened at 71.23 on Monday. L Brands has a one year low of $60.00 and a one year high of $101.11. The company has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91. The firm has a 50-day moving average of $73.51 and a 200 day moving average of $73.30.
Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of L Brands during the first quarter valued at $35,118,000. Wellington Management Group LLP increased its stake in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock valued at $232,522,000 after buying an additional 1,358,509 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of L Brands during the second quarter valued at $93,181,000. Panagora Asset Management Inc. increased its stake in shares of L Brands by 7.8% in the first quarter. Panagora Asset Management Inc. now owns 386,655 shares of the company’s stock valued at $33,952,000 after buying an additional 27,996 shares in the last quarter. Finally, Flossbach Von Storch AG increased its stake in shares of L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock valued at $113,223,000 after buying an additional 1,367,300 shares in the last quarter. 75.60% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Martin P. Waters sold 45,500 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total value of $3,525,795.00. Following the sale, the insider now owns 13,970 shares of the company’s stock, valued at $1,082,535.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by insiders.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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