L Brands, Inc. (LB) Receives Average Rating of “Hold” from Brokerages
Shares of L Brands, Inc. (NYSE:LB) have earned a consensus rating of “Hold” from the thirty-six research firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $45.76.
A number of analysts have issued reports on the stock. MKM Partners reduced their target price on shares of L Brands from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, October 6th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of L Brands in a research note on Thursday, October 5th. FBR & Co restated a “buy” rating and issued a $58.00 price objective on shares of L Brands in a research note on Wednesday, October 4th. KeyCorp restated a “sell” rating and issued a $32.00 price objective on shares of L Brands in a research note on Tuesday, September 26th. Finally, Atlantic Securities upgraded shares of L Brands from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 26th.
L Brands (LB) opened at 41.85 on Thursday. The stock has a 50 day moving average of $39.46 and a 200-day moving average of $45.95. The stock has a market cap of $11.88 billion, a P/E ratio of 12.28 and a beta of 0.68. L Brands has a 52 week low of $35.00 and a 52 week high of $75.50.
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, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. Analysts forecast that L Brands will post $3.13 earnings per share for the current year.
L Brands declared that its board has initiated a share repurchase plan on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the transaction, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.68% of the company’s stock.
Several large investors have recently made changes to their positions in LB. Lord Abbett & CO. LLC increased its stake in L Brands by 17.7% during the 2nd quarter. Lord Abbett & CO. LLC now owns 400,200 shares of the specialty retailer’s stock worth $21,567,000 after purchasing an additional 60,056 shares in the last quarter. Rikoon Group LLC increased its stake in L Brands by 5.3% during the 2nd quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock worth $1,330,000 after purchasing an additional 1,250 shares in the last quarter. Advisory Services Network LLC increased its stake in L Brands by 5,618.0% during the 2nd quarter. Advisory Services Network LLC now owns 5,089 shares of the specialty retailer’s stock worth $274,000 after purchasing an additional 5,000 shares in the last quarter. WINTON GROUP Ltd increased its stake in L Brands by 182.6% during the 2nd quarter. WINTON GROUP Ltd now owns 59,353 shares of the specialty retailer’s stock worth $3,199,000 after purchasing an additional 38,349 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its stake in L Brands by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,981,735 shares of the specialty retailer’s stock worth $106,796,000 after purchasing an additional 10,240 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.
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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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