L Brands, Inc. (NYSE:LB) Given a $44.00 Price Target by BMO Capital Markets Analysts
L Brands, Inc. (NYSE:LB) has been assigned a $44.00 price target by stock analysts at BMO Capital Markets in a report released on Tuesday. The brokerage currently has a “hold” rating on the specialty retailer’s stock. BMO Capital Markets’ price target would indicate a potential upside of 3.14% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Vetr downgraded L Brands from a “strong-buy” rating to a “buy” rating and set a $55.51 price target for the company. in a report on Monday, April 24th. Buckingham Research reissued a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Deutsche Bank AG cut their price objective on L Brands from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. set a $62.00 price objective on L Brands and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, FBR & Co set a $60.00 price objective on L Brands and gave the stock a “buy” rating in a research report on Thursday, May 18th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $55.76.
L Brands (LB) opened at 42.66 on Tuesday. The company has a market capitalization of $12.24 billion, a PE ratio of 11.24 and a beta of 0.62. L Brands has a 52 week low of $41.28 and a 52 week high of $79.67. The stock’s 50 day moving average is $48.04 and its 200 day moving average is $51.33.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. L Brands’s revenue was down 6.8% compared to the same quarter last year. Analysts predict that L Brands will post $3.24 EPS for the current fiscal year.
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In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now directly owns 75,658 shares in the company, valued at approximately $3,698,163.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.45% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. DnB Asset Management AS raised its position in shares of L Brands by 18.1% in the first quarter. DnB Asset Management AS now owns 27,459 shares of the specialty retailer’s stock worth $1,293,000 after buying an additional 4,200 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of L Brands by 10.0% in the first quarter. Gateway Investment Advisers LLC now owns 221,500 shares of the specialty retailer’s stock worth $10,433,000 after buying an additional 20,134 shares in the last quarter. Heritage Investors Management Corp raised its position in shares of L Brands by 17.5% in the first quarter. Heritage Investors Management Corp now owns 146,953 shares of the specialty retailer’s stock worth $6,921,000 after buying an additional 21,835 shares in the last quarter. Financial & Investment Management Group Ltd. acquired a new position in shares of L Brands during the first quarter worth $2,678,000. Finally, Skylands Capital LLC raised its position in shares of L Brands by 51.4% in the first quarter. Skylands Capital LLC now owns 96,825 shares of the specialty retailer’s stock worth $4,560,000 after buying an additional 32,875 shares in the last quarter. Institutional investors and hedge funds own 75.43% 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, 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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