L Brands Inc. (LB) Announces Earnings Results
L Brands Inc. (NYSE:LB) issued its quarterly earnings results on Wednesday. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm earned $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the business posted $0.55 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. L Brands updated its Q4 guidance to $1.85-2.00 EPS.
Shares of L Brands (NYSE:LB) traded down 0.26% on Wednesday, reaching $67.93. 3,312,000 shares of the company traded hands. L Brands has a 1-year low of $60.00 and a 1-year high of $99.83. The firm has a market capitalization of $19.43 billion, a P/E ratio of 16.56 and a beta of 0.88. The stock has a 50-day moving average price of $70.65 and a 200 day moving average price of $71.13.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a $0.60 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.40 annualized dividend and a yield of 3.53%. L Brands’s dividend payout ratio (DPR) is presently 58.68%.
A number of analysts have weighed in on the company. Citigroup Inc. upgraded L Brands from a “neutral” rating to a “buy” rating and increased their price target for the stock from $74.00 to $84.00 in a report on Monday. Vetr downgraded L Brands from a “hold” rating to a “sell” rating and set a $65.46 price target for the company. in a report on Monday. Jefferies Group downgraded L Brands from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $70.00 to $50.00 in a report on Monday, November 7th. MKM Partners set a $68.00 price target on L Brands and gave the stock a “hold” rating in a report on Sunday, November 6th. Finally, FBR & Co set a $75.00 price target on L Brands and gave the stock a “hold” rating in a report on Wednesday, November 2nd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average price target of $75.19.
In other L Brands news, insider Martin P. Waters sold 45,500 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 13,970 shares in the company, valued at $1,082,535.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was 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 company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Quadrature Capital Ltd purchased a new stake in shares of L Brands during the second quarter valued at approximately $275,000. GAM Holding AG increased its stake in shares of L Brands by 69.3% in the second quarter. GAM Holding AG now owns 45,767 shares of the company’s stock valued at $3,072,000 after buying an additional 18,732 shares during the last quarter. Atlantic Trust Group LLC increased its stake in shares of L Brands by 17.9% in the second quarter. Atlantic Trust Group LLC now owns 55,745 shares of the company’s stock valued at $3,742,000 after buying an additional 8,471 shares during the last quarter. Commonwealth Bank of Australia increased its stake in shares of L Brands by 81.6% in the second quarter. Commonwealth Bank of Australia now owns 18,219 shares of the company’s stock valued at $1,224,000 after buying an additional 8,185 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its stake in shares of L Brands by 42.5% in the second quarter. Freestone Capital Holdings LLC now owns 24,825 shares of the company’s stock valued at $1,667,000 after buying an additional 7,408 shares during the last quarter. Institutional investors and hedge funds own 75.47% of the company’s stock.
L Brands Company Profile
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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