KeyCorp Analysts Give L Brands, Inc. (LB) a $32.00 Price Target
KeyCorp set a $32.00 target price on L Brands, Inc. (NYSE:LB) in a research report released on Friday morning. The brokerage currently has a sell rating on the specialty retailer’s stock. KeyCorp also issued estimates for L Brands’ Q3 2018 earnings at $0.28 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $2.04 EPS and FY2019 earnings at $3.10 EPS.
LB has been the topic of a number of other reports. Deutsche Bank AG decreased their price objective on L Brands from $62.00 to $61.00 and set a buy rating on the stock in a research note on Monday, May 15th. Vetr upgraded L Brands from a hold rating to a buy rating and set a $53.02 price objective on the stock in a research note on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $62.00 price objective on L Brands and gave the company a buy rating in a research note on Thursday, May 4th. Buckingham Research reiterated a buy rating on shares of L Brands in a research note on Wednesday, April 26th. Finally, FBR & Co set a $60.00 target price on L Brands and gave the stock a buy rating in a research report on Thursday, May 18th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $51.04.
L Brands (LB) opened at 36.20 on Friday. L Brands has a one year low of $35.00 and a one year high of $79.67. The firm has a 50-day moving average price of $44.42 and a 200-day moving average price of $49.87. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 10.63 and a beta of 0.62.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.75 billion. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Analysts expect that L Brands will post $3.17 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a yield of 6.63%. L Brands’s dividend payout ratio is currently 70.38%.
A number of large investors have recently bought and sold shares of the stock. Norway Savings Bank boosted its stake in L Brands by 0.5% in the second quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock worth $557,000 after buying an additional 50 shares in the last quarter. M&T Bank Corp boosted its stake in L Brands by 0.3% in the second quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock worth $925,000 after buying an additional 53 shares in the last quarter. Cleararc Capital Inc. boosted its stake in L Brands by 1.3% in the first quarter. Cleararc Capital Inc. now owns 5,893 shares of the specialty retailer’s stock worth $278,000 after buying an additional 74 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in L Brands by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock worth $965,000 after buying an additional 83 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in L Brands by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock worth $803,000 after buying an additional 100 shares in the last quarter. 75.20% of the stock is currently owned by institutional investors and hedge funds.
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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