L Brands Inc. (LB) Issues Q4 Earnings Guidance
L Brands Inc. (NYSE:LB) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.85-2.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.02.
Several research firms have weighed in on LB. Jefferies Group reissued a hold rating on shares of L Brands in a research report on Tuesday, August 23rd. Morgan Stanley reissued a buy rating and issued a $80.00 price target on shares of L Brands in a research report on Tuesday, August 23rd. FBR & Co boosted their price target on L Brands from $68.00 to $75.00 and gave the stock a market perform rating in a research report on Friday, August 19th. Credit Suisse Group AG boosted their price objective on shares of L Brands from $66.00 to $76.00 and gave the stock a neutral rating in a report on Friday, August 19th. Finally, Citigroup Inc. boosted their price objective on shares of L Brands from $72.00 to $78.00 and gave the stock a neutral rating in a report on Friday, August 19th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $75.19.
Shares of L Brands Inc. (NYSE:LB) traded down 0.26% during midday trading on Wednesday, reaching $67.93. 3,312,200 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $70.65 and its 200 day moving average price is $71.13. The stock has a market capitalization of $19.43 billion, a P/E ratio of 16.56 and a beta of 0.88. L Brands Inc. has a 1-year low of $60.00 and a 1-year high of $99.83.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, November 16th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts predict that L Brands Inc. will post $3.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued 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 payout ratio is 58.68%.
In related news, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total value of $1,808,976.19. The transaction 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 the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction 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 currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of LB. Quadrature Capital Ltd acquired a new position in L Brands during the second quarter worth approximately $275,000. GAM Holding AG increased its position in L Brands by 69.3% in the second quarter. GAM Holding AG now owns 45,767 shares of the company’s stock worth $3,072,000 after buying an additional 18,732 shares in the last quarter. Atlantic Trust Group LLC increased its position in L Brands by 17.9% in the second quarter. Atlantic Trust Group LLC now owns 55,745 shares of the company’s stock worth $3,742,000 after buying an additional 8,471 shares in the last quarter. Commonwealth Bank of Australia increased its position in L Brands by 81.6% in the second quarter. Commonwealth Bank of Australia now owns 18,219 shares of the company’s stock worth $1,224,000 after buying an additional 8,185 shares in the last quarter. Finally, Freestone Capital Holdings LLC increased its position in L Brands by 42.5% in the second quarter. Freestone Capital Holdings LLC now owns 24,825 shares of the company’s stock worth $1,667,000 after buying an additional 7,408 shares in 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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