L Brands’ (LB) Hold Rating Reaffirmed at BMO Capital Markets
Other analysts also recently issued reports about the company. FBR & Co set a $75.00 price objective on L Brands and gave the company a hold rating in a research note on Saturday, October 8th. MKM Partners set a $68.00 price objective on L Brands and gave the company a hold rating in a research note on Sunday, November 6th. Stifel Nicolaus reissued a buy rating and set a $90.00 target price on shares of L Brands in a research note on Saturday, September 3rd. Mizuho reissued a buy rating and set a $85.00 target price on shares of L Brands in a research note on Thursday, September 1st. Finally, Zacks Investment Research raised L Brands from a hold rating to a buy rating and set a $87.00 target price for the company in a research note on Monday, August 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $74.62.
Shares of L Brands (NYSE:LB) traded up 1.42% during mid-day trading on Thursday, hitting $70.63. The stock had a trading volume of 804,003 shares. L Brands has a 52-week low of $60.00 and a 52-week high of $99.83. The company has a market cap of $20.20 billion, a PE ratio of 17.21 and a beta of 0.88. The stock has a 50 day moving average price of $70.21 and a 200-day moving average price of $70.86.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm earned $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a negative return on equity of 137.81% and a net margin of 9.31%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. On average, equities analysts expect that L Brands will post $3.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.45%. L Brands’s dividend payout ratio (DPR) is 60.61%.
In other L Brands news, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction that occurred on Tuesday, August 23rd. The stock was 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 directly owns 13,970 shares in the company, valued at $1,082,535.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of L Brands 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 disclosure for this sale can be found here. 16.45% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Exxonmobil Investment Management Inc. TX increased its position in shares of L Brands by 5.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 65,490 shares of the company’s stock worth $4,396,000 after buying an additional 3,476 shares during the last quarter. DNB Asset Management AS boosted its stake in L Brands by 2.0% in the second quarter. DNB Asset Management AS now owns 20,059 shares of the company’s stock worth $1,347,000 after buying an additional 400 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its stake in L Brands by 8.2% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,803,000 shares of the company’s stock worth $725,421,000 after buying an additional 815,000 shares during the period. New England Research & Management Inc. boosted its stake in L Brands by 50.6% in the second quarter. New England Research & Management Inc. now owns 6,250 shares of the company’s stock worth $420,000 after buying an additional 2,100 shares during the period. Finally, Boothbay Fund Management LLC boosted its stake in L Brands by 4.5% in the first quarter. Boothbay Fund Management LLC now owns 2,694 shares of the company’s stock worth $237,000 after buying an additional 117 shares during the period. Institutional investors 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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