Q4 2018 Earnings Estimate for L Brands, Inc. Issued By Oppenheimer Holdings (LB)
L Brands, Inc. (NYSE:LB) – Equities research analysts at Oppenheimer Holdings cut their Q4 2018 earnings per share (EPS) estimates for L Brands in a research note issued on Thursday. Oppenheimer Holdings analyst A. Andreeva now expects that the specialty retailer will earn $2.04 per share for the quarter, down from their previous estimate of $2.05. Oppenheimer Holdings has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for L Brands’ Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.34 EPS and Q4 2019 earnings at $2.19 EPS.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 net margin of 7.73% and a negative return on equity of 110.21%. L Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS.
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LB has been the topic of a number of other reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $57.00 price target on shares of L Brands in a report on Monday, September 18th. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 23rd. FBR & Co reiterated a “buy” rating and issued a $58.00 price target on shares of L Brands in a report on Wednesday, October 4th. BMO Capital Markets set a $37.00 price target on shares of L Brands and gave the company a “market perform” rating in a report on Friday, August 18th. Finally, Bank of America Corporation reduced their price target on shares of L Brands from $35.00 to $32.00 and set an “underperform” rating on the stock in a report on Friday, August 18th. Six equities 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 company. The stock currently has a consensus rating of “Hold” and an average price target of $48.11.
Shares of L Brands (NYSE:LB) traded down $0.37 during midday trading on Monday, reaching $49.69. 2,786,965 shares of the company’s stock were exchanged, compared to its average volume of 4,217,633. The company has a debt-to-equity ratio of -6.25, a quick ratio of 1.05 and a current ratio of 1.68. The company has a market cap of $14,100.00, a P/E ratio of 16.08, a P/E/G ratio of 1.40 and a beta of 0.68. L Brands has a one year low of $35.00 and a one year high of $75.50.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp increased its stake in L Brands by 0.3% during the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after purchasing an additional 53 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in L Brands by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after purchasing an additional 83 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in L Brands by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock valued at $803,000 after purchasing an additional 100 shares in the last quarter. Financial Advisors Network Inc. increased its stake in L Brands by 2.8% during the 2nd quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 134 shares in the last quarter. Finally, State Treasurer State of Michigan increased its stake in L Brands by 0.3% during the 2nd quarter. State Treasurer State of Michigan now owns 79,144 shares of the specialty retailer’s stock valued at $4,265,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 76.63% of the company’s stock.
In other news, Director David T. Kollat acquired 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the purchase, the director now directly owns 158,878 shares in the company, valued at approximately $7,997,918.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan R. Tessler acquired 20,000 shares of L Brands stock in a transaction that occurred on Thursday, September 21st. The shares were purchased at an average price of $37.00 per share, with a total value of $740,000.00. Following the purchase, the director now owns 43,342 shares in the company, valued at $1,603,654. The disclosure for this purchase can be found here. 16.68% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a $0.60 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. L Brands’s payout ratio is presently 73.17%.
L Brands announced that its board has authorized a share buyback program on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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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