L Brands Inc. (LB) Expected to Post Q4 2017 Earnings of $1.98 Per Share
L Brands Inc. (NYSE:LB) – Stock analysts at KeyCorp cut their Q4 2017 earnings estimates for shares of L Brands in a report released on Friday. KeyCorp analyst E. Yruma now forecasts that the firm will post earnings of $1.98 per share for the quarter, down from their previous forecast of $2.00. KeyCorp also issued estimates for L Brands’ Q1 2018 earnings at $0.56 EPS and Q2 2018 earnings at $0.59 EPS.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The business earned $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. L Brands’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS.
Several other research analysts have also issued reports on LB. Jefferies Group reissued a “hold” rating on shares of L Brands in a research note on Monday, August 1st. MKM Partners reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of L Brands in a research note on Wednesday, August 3rd. FBR & Co set a $68.00 price objective on shares of L Brands and gave the company a “hold” rating in a research note on Friday, August 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of L Brands in a research note on Friday, August 5th. Finally, Goldman Sachs Group Inc. raised their price objective on shares of L Brands from $64.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. L Brands presently has an average rating of “Hold” and a consensus price target of $74.62.
Shares of L Brands (NYSE:LB) traded up 1.9986% during mid-day trading on Monday, hitting $70.5932. 1,147,440 shares of the company traded hands. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of 17.2053 and a beta of 0.88. L Brands has a one year low of $60.00 and a one year high of $99.83. The firm has a 50-day moving average of $70.18 and a 200-day moving average of $70.65.
Several large investors have recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of L Brands by 5,516.4% in the second quarter. American International Group Inc. now owns 5,959,135 shares of the company’s stock worth $400,037,000 after buying an additional 5,853,032 shares during the last quarter. Jackson Square Partners LLC raised its stake in shares of L Brands by 39.0% in the second quarter. Jackson Square Partners LLC now owns 7,415,981 shares of the company’s stock worth $497,834,000 after buying an additional 2,082,149 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of L Brands during the second quarter worth $93,181,000. Flossbach Von Storch AG raised 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 worth $113,223,000 after buying an additional 1,367,300 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt raised its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 76.29% of the company’s stock.
In other news, COO Charles Mcguigan sold 23,687 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.45% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.40 annualized dividend and a yield of 3.47%. L Brands’s payout ratio is presently 60.61%.
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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