CIBC Reaffirms “Hold” Rating for L Brands (LB)
A number of other analysts have also recently commented on the stock. Deutsche Bank set a $56.00 price target on shares of L Brands and gave the company a buy rating in a research report on Thursday, August 17th. Jefferies Group set a $32.00 price target on shares of L Brands and gave the company a sell rating in a research report on Thursday, August 17th. Goldman Sachs Group set a $59.00 price target on shares of L Brands and gave the company a buy rating in a research report on Thursday, August 17th. Instinet cut their price target on shares of L Brands from $43.00 to $38.00 and set a neutral rating on the stock in a research report on Thursday, August 17th. Finally, Nomura set a $38.00 price target on shares of L Brands and gave the company a hold rating in a research report on Thursday, August 17th. Six analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $49.40.
Shares of L Brands (LB) traded up $2.18 during trading hours on Friday, hitting $57.28. 4,241,300 shares of the stock traded hands, compared to its average volume of 4,231,837. The firm has a market capitalization of $16,168.15, a P/E ratio of 18.24, a PEG ratio of 1.59 and a beta of 0.81. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. L Brands has a 52 week low of $35.00 and a 52 week high of $75.42.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting 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 company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. L Brands’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts expect that L Brands will post 3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.19%. The ex-dividend date was Wednesday, November 22nd. L Brands’s payout ratio is 72.95%.
L Brands announced that its board has authorized a stock buyback plan on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Allan R. Tessler acquired 20,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were purchased at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the transaction, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David T. Kollat acquired 9,910 shares of the stock in a transaction dated Monday, November 20th. The shares were bought 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 in the company, valued at approximately $7,997,918.52. The disclosure for this purchase can be found here. Company insiders own 16.68% of the company’s stock.
Large investors have recently modified their holdings of the stock. First Personal Financial Services raised its position in L Brands by 127.7% in the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after purchasing an additional 1,096 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in L Brands in the 3rd quarter worth $161,000. IFP Advisors Inc raised its position in L Brands by 52.1% in the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after purchasing an additional 1,618 shares during the period. Chesapeake Asset Management LLC purchased a new position in L Brands in the 3rd quarter worth $205,000. Finally, Allianz Asset Management GmbH purchased a new position in L Brands in the 3rd quarter worth $206,000. Institutional investors own 78.95% of the company’s stock.
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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