Morgan Stanley reiterated their overweight rating on shares of L Brands (NYSE:LB) in a research report released on Thursday morning. They currently have a $70.00 price objective on the specialty retailer’s stock.

Several other research analysts also recently commented on the stock. CIBC restated a hold rating and set a $60.00 price objective on shares of L Brands in a research report on Friday, December 8th. Telsey Advisory Group boosted their price objective on shares of L Brands from $60.00 to $64.00 and gave the company an outperform rating in a research report on Monday, December 4th. Robert W. Baird set a $52.00 price objective on shares of L Brands and gave the company a hold rating in a research report on Friday, December 1st. B. Riley restated a buy rating and set a $58.00 price objective on shares of L Brands in a research report on Wednesday, November 29th. Finally, Scotiabank restated a hold rating and set a $67.00 price objective on shares of L Brands in a research report on Wednesday, November 22nd. Six investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $50.01.

L Brands (NYSE:LB) opened at $58.11 on Thursday. L Brands has a 1 year low of $35.00 and a 1 year high of $71.61. The company has a market cap of $16,402.42, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. equities research analysts anticipate that L Brands will post 3.14 EPS for the current year.

L Brands announced that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a $0.60 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $2.40 annualized dividend and a dividend yield of 4.13%. L Brands’s dividend payout ratio is 72.95%.

In other news, Director David T. Kollat purchased 9,910 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the transaction, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were purchased 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 disclosure for this purchase can be found here. Insiders own 16.68% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LB. Strs Ohio boosted its position in L Brands by 5.7% during the second quarter. Strs Ohio now owns 14,045 shares of the specialty retailer’s stock valued at $756,000 after acquiring an additional 753 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in L Brands by 47.4% during the second quarter. Janney Montgomery Scott LLC now owns 8,788 shares of the specialty retailer’s stock valued at $474,000 after acquiring an additional 2,828 shares during the last quarter. Retirement Systems of Alabama boosted its position in L Brands by 0.6% during the second quarter. Retirement Systems of Alabama now owns 116,825 shares of the specialty retailer’s stock valued at $6,296,000 after acquiring an additional 715 shares during the last quarter. Global X Management Co. LLC boosted its position in L Brands by 41.3% during the second quarter. Global X Management Co. LLC now owns 6,989 shares of the specialty retailer’s stock valued at $377,000 after acquiring an additional 2,044 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in L Brands by 6.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 844,693 shares of the specialty retailer’s stock valued at $45,521,000 after acquiring an additional 52,731 shares during the last quarter. 78.95% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for L Brands (NYSE:LB)

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