L Brands, Inc. (LB) Receives Consensus Rating of “Hold” from Brokerages
L Brands, Inc. (NYSE:LB) has received a consensus recommendation of “Hold” from the thirty-four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $48.66.
LB has been the subject of several research analyst reports. Jefferies Group LLC set a $35.00 price objective on shares of L Brands and gave the stock a “sell” rating in a report on Tuesday, July 4th. FBR & Co set a $60.00 price objective on shares of L Brands and gave the stock a “buy” rating in a report on Tuesday, July 4th. Cowen and Company restated a “buy” rating and issued a $56.00 price objective on shares of L Brands in a report on Tuesday, July 4th. Vetr lowered shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 price objective for the company. in a report on Monday, June 12th. Finally, ValuEngine lowered shares of L Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
A number of large investors have recently bought and sold shares of the company. DnB Asset Management AS increased its stake in 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 during the period. State of Alaska Department of Revenue bought a new stake in L Brands during the first quarter worth approximately $214,000. Nationwide Fund Advisors increased its stake in L Brands by 21.7% in the first quarter. Nationwide Fund Advisors now owns 80,630 shares of the specialty retailer’s stock worth $3,798,000 after buying an additional 14,364 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in 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 worth $285,000 after buying an additional 234 shares during the period. Finally, Korea Investment CORP increased its stake in L Brands by 106.5% in the first quarter. Korea Investment CORP now owns 109,437 shares of the specialty retailer’s stock worth $5,154,000 after buying an additional 56,449 shares during the period. 78.71% of the stock is owned by institutional investors and hedge funds.
L Brands (LB) traded down 0.30% during trading on Wednesday, reaching $36.45. The company’s stock had a trading volume of 2,107,179 shares. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 10.70 and a beta of 0.62. The firm has a 50 day moving average price of $42.41 and a 200-day moving average price of $49.04. L Brands has a 52-week low of $35.00 and a 52-week high of $77.54.
L Brands (NYSE:LB) last posted its earnings results 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. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. L Brands’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. On average, analysts expect that L Brands will post $3.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) 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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