Jefferies Group LLC Reiterates “$30.00” Price Target for L Brands, Inc. (LB)
L Brands, Inc. (NYSE:LB) has been assigned a $30.00 target price by Jefferies Group LLC in a research report issued to clients and investors on Monday. The firm currently has a “sell” rating on the specialty retailer’s stock. Jefferies Group LLC’s price objective would suggest a potential downside of 17.70% from the stock’s current price.
LB has been the topic of several other research reports. Zacks Investment Research cut L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. FBR & Co reaffirmed an “outperform” rating and set a $60.00 target price on shares of L Brands in a research note on Wednesday, May 31st. Vetr raised L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 target price on the stock in a research note on Monday, June 19th. BMO Capital Markets set a $37.00 target price on L Brands and gave the company a “market perform” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation lowered their target price on L Brands from $35.00 to $32.00 and set an “underperform” rating on the stock in a research note on Friday, August 18th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.66.
Shares of L Brands (LB) traded down 0.30% during trading on Monday, reaching $36.45. 2,107,104 shares of the company’s stock were exchanged. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 10.70 and a beta of 0.62. The stock has a 50 day moving average price of $42.41 and a 200-day moving average price of $49.04. L Brands has a 52 week low of $35.00 and a 52 week high of $77.54.
L Brands (NYSE:LB) last released its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts predict that L Brands will post $3.14 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Exane Derivatives purchased a new position in shares of L Brands during the first quarter worth approximately $274,000. Oregon Public Employees Retirement Fund raised its position in shares of L Brands by 0.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,216 shares of the specialty retailer’s stock worth $1,188,000 after buying an additional 200 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock worth $1,129,000 after buying an additional 18,575 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of L Brands during the first quarter worth approximately $1,681,000. Finally, IFP Advisors Inc raised its position in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the last quarter. Institutional investors and hedge funds own 78.71% 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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