$0.30 Earnings Per Share Expected for L Brands, Inc. (LB) This Quarter
Wall Street analysts expect that L Brands, Inc. (NYSE:LB) will report $0.30 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for L Brands’ earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.25. L Brands reported earnings of $0.42 per share in the same quarter last year, which would indicate a negative year over year growth rate of 28.6%. The firm is scheduled to issue its next earnings results on Wednesday, November 15th.
On average, analysts expect that L Brands will report full-year earnings of $3.15 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.37. For the next fiscal year, analysts expect that the business will report earnings of $3.19 per share, with EPS estimates ranging from $2.10 to $3.65. Zacks’ EPS averages are an average based on a survey of analysts that follow L Brands.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS.
Several brokerages recently weighed in on LB. Zacks Investment Research lowered L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday. FBR & Co restated an “outperform” rating and issued a $60.00 price target on shares of L Brands in a research note on Wednesday, May 31st. Vetr upgraded L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price target for the company in a research note on Monday, June 19th. BMO Capital Markets set a $37.00 price target on L Brands and gave the company a “market perform” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation cut their price target on L Brands from $35.00 to $32.00 and set an “underperform” rating for the company in a research note on Friday, August 18th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. L Brands presently has an average rating of “Hold” and a consensus price target of $48.73.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lincoln National Corp raised its stake in shares of L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock worth $1,668,000 after buying an additional 12,045 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock worth $1,129,000 after buying an additional 18,575 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of L Brands during the first quarter worth about $1,681,000. Coronation Fund Managers Ltd. raised its stake in shares of L Brands by 18.1% in the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock worth $52,045,000 after buying an additional 148,076 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of L Brands by 11.4% in the second quarter. US Bancorp DE now owns 14,761 shares of the specialty retailer’s stock worth $796,000 after buying an additional 1,514 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.
Shares of L Brands (NYSE:LB) traded up 0.86% during mid-day trading on Friday, hitting $36.56. The stock had a trading volume of 3,048,311 shares. L Brands has a 12 month low of $35.00 and a 12 month high of $77.55. The company has a market cap of $10.49 billion, a PE ratio of 10.73 and a beta of 0.62. The stock’s 50-day moving average is $42.41 and its 200 day moving average is $49.04.
The firm also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio is presently 70.38%.
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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