BMO Capital Markets Analysts Give L Brands, Inc. (LB) a $37.00 Price Target
BMO Capital Markets set a $37.00 price objective on L Brands, Inc. (NYSE:LB) in a research note released on Friday morning, Marketbeat reports. The firm currently has a market perform rating on the specialty retailer’s stock.
A number of other equities research analysts have also recently issued reports on the company. Buckingham Research reiterated a buy rating on shares of L Brands in a research note on Wednesday, April 26th. Instinet reiterated a neutral rating and issued a $49.00 target price (up from $48.00) on shares of L Brands in a research note on Friday, May 19th. Jefferies Group LLC set a $32.00 target price on L Brands and gave the company a sell rating in a research note on Wednesday, July 19th. BidaskClub cut L Brands from a hold rating to a sell rating in a research note on Friday, July 28th. Finally, Credit Suisse Group reiterated a neutral rating and issued a $55.00 target price (up from $52.00) on shares of L Brands in a research note on Friday, May 19th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $51.04.
Shares of L Brands (NYSE:LB) opened at 36.20 on Friday. L Brands has a 12 month low of $35.00 and a 12 month high of $79.67. The firm’s 50 day moving average is $44.42 and its 200-day moving average is $49.87. The firm has a market capitalization of $10.38 billion, a PE ratio of 10.63 and a beta of 0.62.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts expect that L Brands will post $3.17 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s dividend payout ratio is presently 70.38%.
Hedge funds have recently added to or reduced their stakes in the stock. Korea Investment CORP raised its stake in shares of L Brands by 106.5% in the first quarter. Korea Investment CORP now owns 109,437 shares of the specialty retailer’s stock valued at $5,154,000 after buying an additional 56,449 shares in the last quarter. UMB Bank N A MO raised its stake in shares of L Brands by 2.5% in the first quarter. UMB Bank N A MO now owns 24,090 shares of the specialty retailer’s stock valued at $1,134,000 after buying an additional 598 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of L Brands by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,483 shares of the specialty retailer’s stock valued at $285,000 after buying an additional 234 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of L Brands by 21.7% in the first quarter. Nationwide Fund Advisors now owns 80,630 shares of the specialty retailer’s stock valued at $3,798,000 after buying an additional 14,364 shares in the last quarter. Finally, CAPROCK Group Inc. raised its stake in shares of L Brands by 8.4% in the first quarter. CAPROCK Group Inc. now owns 8,103 shares of the specialty retailer’s stock valued at $382,000 after buying an additional 627 shares in the last quarter. Institutional investors and hedge funds own 75.20% 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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