L Brands Inc’s Same Store Sales Numbers Beat Analysts’ Estimates (NYSE:LB)
L Brands’ (NYSE:LB) same-store sales increased by 1% in the month of December. L Brands’ stock rose by 0% in the first full-day of trading following the report.
A number of research firms have recently commented on LB. Piper Jaffray Companies set a $49.00 price objective on shares of L Brands and gave the stock a “hold” rating in a report on Wednesday. MKM Partners set a $56.00 price objective on shares of L Brands and gave the stock a “hold” rating in a report on Friday, January 5th. Citigroup reaffirmed a “hold” rating and set a $58.00 price objective on shares of L Brands in a report on Friday, January 5th. Wells Fargo & Co set a $48.00 price objective on shares of L Brands and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Telsey Advisory Group raised their price objective on shares of L Brands from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, January 2nd. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $51.86.
In related news, Director David T. Kollat acquired 9,910 shares of the stock in a transaction 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 transaction, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.68% of the company’s stock.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. equities research analysts forecast that L Brands will post 3.12 earnings per share for the current fiscal year.
L Brands announced that its board has authorized a stock repurchase plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of L Brands during the 3rd quarter worth approximately $161,000. IFP Advisors Inc grew its position in shares of L Brands by 52.1% during the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after buying an additional 1,618 shares during the period. Chesapeake Asset Management LLC acquired a new stake in shares of L Brands during the 3rd quarter worth approximately $205,000. Allianz Asset Management GmbH acquired a new stake in shares of L Brands during the 3rd quarter worth approximately $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of L Brands during the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 78.68% of the company’s stock.
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.
Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.