KeyCorp Comments on L Brands Inc.’s Q3 2018 Earnings (LB)
L Brands Inc. (NYSE:LB) – Analysts at KeyCorp cut their Q3 2018 earnings per share (EPS) estimates for L Brands in a research note issued on Friday. KeyCorp analyst E. Yruma now forecasts that the brokerage will earn $0.45 per share for the quarter, down from their previous forecast of $0.47. KeyCorp also issued estimates for L Brands’ Q4 2018 earnings at $2.17 EPS.
A number of other analysts have also recently issued reports on the company. MKM Partners restated a “neutral” rating and set a $71.00 price objective on shares of L Brands in a research report on Wednesday. FBR & Co set a $75.00 price objective on L Brands and gave the company a “hold” rating in a research report on Saturday. Mizuho restated a “buy” rating and set a $85.00 price objective on shares of L Brands in a research report on Sunday. Cowen and Company restated an “outperform” rating and set a $83.00 price objective on shares of L Brands in a research report on Saturday. Finally, Oppenheimer Holdings Inc. set a $90.00 price target on L Brands and gave the company a “buy” rating in a research report on Thursday, October 6th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $78.32.
L Brands (NYSE:LB) traded up 3.53% on Monday, reaching $73.04. 2,113,555 shares of the company traded hands. The firm has a 50 day moving average price of $73.13 and a 200 day moving average price of $73.00. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 17.80 and a beta of 0.91. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The business had revenue of $2.89 billion for the quarter. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share.
Several institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P raised its position in shares of L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock valued at $151,000 after buying an additional 741 shares during the last quarter. Financial Architects Inc raised its position in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of L Brands during the second quarter valued at about $123,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares in the last quarter. Institutional investors own 75.60% of the company’s stock.
In other news, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of L Brands 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 completion of the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is 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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