L Brands, Inc. Same Store Sales Drop by 4% in August (NYSE:LB)
L Brands’ (NYSE:LB) same store sales decreased by 4% during the month of August. L Brands’ stock rose by 0.4% in the first day of trading following the news.
LB has been the subject of several research reports. FBR & Co restated an “outperform” rating and issued a $60.00 target price on shares of L Brands in a research note on Thursday, July 27th. Jefferies Group LLC set a $35.00 target price on L Brands and gave the company a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group set a $47.00 target price on L Brands and gave the company a “hold” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reduced their target price on L Brands from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, May 5th. Finally, Vetr upgraded L Brands from a “strong sell” rating to a “sell” rating and set a $46.89 target price for the company in a research note on Monday, June 5th. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.30.
L Brands (NYSE LB) opened at 36.22 on Friday. The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of 10.63 and a beta of 0.62. L Brands has a 12 month low of $35.00 and a 12 month high of $75.94. The company has a 50-day moving average of $41.52 and a 200 day moving average of $48.40.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.04%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the company posted $0.70 EPS. The business’s revenue was down 4.7% on a year-over-year basis. On average, equities research analysts anticipate that L Brands will post $3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.63%. L Brands’s dividend payout ratio is presently 70.38%.
Institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its position in L Brands by 316.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,617 shares of the specialty retailer’s stock worth $1,018,000 after buying an additional 16,431 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in L Brands by 0.4% in the first quarter. Great West Life Assurance Co. Can now owns 187,548 shares of the specialty retailer’s stock worth $8,823,000 after buying an additional 724 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in L Brands by 3.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,130 shares of the specialty retailer’s stock worth $1,843,000 after buying an additional 1,270 shares in the last quarter. Wells Fargo & Company MN boosted its position in L Brands by 41.1% in the first quarter. Wells Fargo & Company MN now owns 1,000,290 shares of the specialty retailer’s stock worth $47,113,000 after buying an additional 291,246 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in L Brands by 0.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,216 shares of the specialty retailer’s stock worth $1,188,000 after buying an additional 200 shares in the last quarter. 78.71% of the stock is owned by hedge funds and other institutional investors.
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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