L Brands, Inc. (LB) Issues FY18 Earnings Guidance
L Brands, Inc. (NYSE:LB) updated its FY18 earnings guidance on Wednesday. The company provided EPS guidance of $3.00-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.22. L Brands also updated its Q3 guidance to $0.25-0.30 EPS.
Several equities analysts have issued reports on the stock. Jefferies Group LLC set a $35.00 price objective on shares of L Brands and gave the company a sell rating in a research note on Thursday, May 4th. Royal Bank Of Canada reissued a hold rating and issued a $55.00 price objective on shares of L Brands in a research note on Monday, July 24th. Vetr cut shares of L Brands from a sell rating to a strong sell rating and set a $46.89 price objective on the stock. in a research note on Monday, June 12th. Wolfe Research dropped their price objective on shares of L Brands from $52.00 to $48.00 and set a peer perform rating on the stock in a research note on Friday, July 7th. Finally, FBR & Co reissued an outperform rating and issued a $60.00 price objective on shares of L Brands in a research note on Thursday, July 27th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $55.76.
L Brands, Inc. (NYSE LB) traded up 2.86% on Wednesday, reaching $39.55. 7,677,274 shares of the company’s stock were exchanged. L Brands, Inc. has a 1-year low of $39.00 and a 1-year high of $79.67. The stock has a market capitalization of $11.34 billion, a P/E ratio of 10.42 and a beta of 0.62. The firm’s 50 day moving average is $45.84 and its 200 day moving average is $50.19. L Brands also was the recipient of unusually large options trading on Monday. Stock traders purchased 7,919 put options on the company. This is an increase of 320% compared to the average volume of 1,885 put options.
L Brands (NYSE:LB) last released its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. L Brands’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Analysts expect that L Brands, Inc. will post $3.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a yield of 6.07%. L Brands’s dividend payout ratio is currently 63.16%.
In related news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.45% of the company’s stock.
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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.
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