Buckingham Research Boosts L Brands, Inc. (LB) Price Target to $50.00
L Brands, Inc. (NYSE:LB) had its price target lifted by Buckingham Research from $40.00 to $50.00 in a report published on Friday. Buckingham Research currently has a neutral rating on the specialty retailer’s stock.
Several other equities research analysts also recently issued reports on LB. BMO Capital Markets set a $44.00 price target on L Brands and gave the company a hold rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $32.00 price target on L Brands and gave the company a sell rating in a research report on Thursday, August 17th. Instinet decreased their target price on L Brands from $43.00 to $38.00 and set a neutral rating on the stock in a research report on Thursday, August 17th. B. Riley set a $58.00 target price on L Brands and gave the stock a buy rating in a research report on Thursday. Finally, Nomura set a $38.00 target price on L Brands and gave the stock a hold rating in a research report on Thursday, August 17th. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the stock. L Brands currently has an average rating of Hold and an average price target of $48.11.
Shares of L Brands (NYSE LB) opened at $50.48 on Friday. The stock has a market capitalization of $14,328.57, a PE ratio of 16.08, a PEG ratio of 1.40 and a beta of 0.67. L Brands has a 1 year low of $35.00 and a 1 year high of $75.50. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. sell-side analysts predict that L Brands will post 3.13 EPS for the current year.
ILLEGAL ACTIVITY WARNING: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/11/20/buckingham-research-boosts-l-brands-inc-lb-price-target-to-50-00.html.
L Brands announced that its board has approved a share repurchase program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Wednesday, November 22nd. L Brands’s dividend payout ratio is presently 72.95%.
In other L Brands news, Director Allan R. Tessler bought 20,000 shares of the stock in a transaction on Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now owns 43,342 shares of the company’s stock, valued at $1,603,654. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 16.68% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in LB. First Personal Financial Services grew its holdings in shares of L Brands by 127.7% in the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,096 shares during the period. IFP Advisors Inc grew its holdings in shares of L Brands by 52.1% in the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after buying an additional 1,618 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of L Brands by 11.2% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 375 shares during the period. Chesapeake Asset Management LLC acquired a new position in shares of L Brands in the 3rd quarter valued at $205,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of L Brands in the 3rd quarter valued at $206,000. 76.63% of the stock is owned by 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.
Receive News & Stock Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related stocks with our FREE daily email newsletter.