Piper Jaffray Cos. Upgrades L Brands Inc. (LB) to Neutral
L Brands Inc. (NYSE:LB) was upgraded by analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a report released on Monday. The brokerage currently has a $67.00 price target on the stock. Piper Jaffray Cos.’s target price points to a potential downside of 6.88% from the stock’s previous close.
A number of other brokerages also recently issued reports on LB. Jefferies Group reiterated a “hold” rating on shares of L Brands in a report on Tuesday, August 23rd. Morgan Stanley restated a “buy” rating and issued a $80.00 target price on shares of L Brands in a report on Tuesday, August 23rd. Telsey Advisory Group boosted their target price on shares of L Brands from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Oppenheimer Holdings Inc. upgraded shares of L Brands from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Friday, August 19th. Finally, FBR & Co boosted their target price on shares of L Brands from $68.00 to $75.00 and gave the stock a “market perform” rating in a report on Friday, August 19th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.28.
L Brands (NYSE:LB) opened at 71.95 on Monday. The company has a market capitalization of $20.58 billion, a P/E ratio of 18.11 and a beta of 0.88. The company has a 50-day moving average of $70.23 and a 200-day moving average of $70.78. L Brands has a 1-year low of $60.00 and a 1-year high of $99.83.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 16th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $2.58 billion for 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 for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. Equities analysts expect that L Brands will post $3.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders 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 dividend yield of 3.34%. L Brands’s payout ratio is currently 60.61%.
Hedge funds have recently added to or reduced their stakes in the company. Palisade Asset Management LLC raised its stake in L Brands by 19.3% in the second quarter. Palisade Asset Management LLC now owns 11,760 shares of the company’s stock worth $789,000 after buying an additional 1,900 shares during the last quarter. Breton Hill Capital Ltd. raised its stake in L Brands by 114.5% in the second quarter. Breton Hill Capital Ltd. now owns 13,104 shares of the company’s stock worth $880,000 after buying an additional 6,995 shares during the last quarter. BKD Wealth Advisors LLC raised its stake in L Brands by 4.8% in the second quarter. BKD Wealth Advisors LLC now owns 9,397 shares of the company’s stock worth $631,000 after buying an additional 428 shares during the last quarter. Capital Insight Partners LLC acquired a new stake in L Brands during the second quarter worth $1,361,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in L Brands by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 218,403 shares of the company’s stock worth $14,662,000 after buying an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 73.59% 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.
Receive News & Stock Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related stocks with our FREE daily email newsletter.