L Brands, Inc. (LB) Issues Q3 Earnings Guidance
L Brands, Inc. (NYSE:LB) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.25-0.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.36. L Brands also updated its FY18 guidance to $3.00-3.20 EPS.
Shares of L Brands, Inc. (NYSE:LB) traded up 2.86% during mid-day trading on Wednesday, reaching $39.55. 7,677,274 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $45.84 and a 200-day moving average price of $50.19. The company has a market capitalization of $11.34 billion, a P/E ratio of 10.42 and a beta of 0.62. L Brands, Inc. has a 1-year low of $39.00 and a 1-year high of $79.67. L Brands also was the target of some unusual options trading on Monday. Stock investors acquired 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 issued its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business earned $0.59 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts forecast that L Brands, Inc. will post $3.23 earnings per share for the current fiscal year.
The business also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Wednesday, August 16th. L Brands’s payout ratio is 63.16%.
A number of research analysts recently weighed in on LB shares. Deutsche Bank AG cut their price objective on L Brands from $62.00 to $61.00 and set a buy rating on the stock in a research note on Monday, May 15th. Vetr raised L Brands from a hold rating to a buy rating and set a $53.02 price objective on the stock in a research note on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $62.00 price objective on L Brands and gave the company a buy rating in a research note on Thursday, May 4th. Buckingham Research reissued a buy rating on shares of L Brands in a research note on Wednesday, April 26th. Finally, FBR & Co set a $60.00 price objective on L Brands and gave the company a buy rating in a research note on Thursday, May 18th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $55.76.
In related news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction on 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 sale, 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 legal filing with the SEC, which is available through this link. 16.45% of the stock is owned by insiders.
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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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