L Brands, Inc. (NYSE:LB) Given Consensus Recommendation of “Hold” by Analysts
Shares of L Brands, Inc. (NYSE:LB) have been given a consensus recommendation of “Hold” by the thirty-four brokerages that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $54.01.
A number of brokerages have weighed in on LB. Cowen and Company reaffirmed a “buy” rating and set a $56.00 target price on shares of L Brands in a research note on Tuesday, July 4th. FBR & Co set a $60.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Tuesday, July 4th. Jefferies Group LLC set a $35.00 target price on shares of L Brands and gave the company a “sell” rating in a research note on Tuesday, July 4th. Vetr downgraded shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 target price for the company. in a research note on Monday, June 12th. Finally, ValuEngine downgraded shares of L Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
In related news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.45% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP bought a new stake in L Brands during the first quarter valued at about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in L Brands during the first quarter valued at about $142,000. IFP Advisors Inc boosted its stake in L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 529 shares during the period. Prospera Financial Services Inc boosted its stake in L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 868 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its stake in L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 375 shares during the period. 75.55% of the stock is owned by institutional investors.
Shares of L Brands (NYSE LB) traded down 6.12% during mid-day trading on Friday, reaching $41.60. The company had a trading volume of 11,869,342 shares. L Brands has a 12-month low of $41.28 and a 12-month high of $79.67. The company has a market capitalization of $11.93 billion, a P/E ratio of 10.45 and a beta of 0.62. The firm has a 50-day moving average of $48.88 and a 200-day moving average of $51.51.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. L Brands’s revenue was down 6.8% on a year-over-year basis. On average, equities analysts anticipate that L Brands will post $3.23 earnings per share for the current fiscal year.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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