L Brands, Inc. (LB) PT Raised to $50.00 at Buckingham Research
L Brands, Inc. (NYSE:LB) had its price target hoisted by Buckingham Research from $40.00 to $50.00 in a research note issued to investors on Friday morning. Buckingham Research currently has a neutral rating on the specialty retailer’s stock.
A number of other brokerages also recently commented on LB. B. Riley set a $58.00 price target on L Brands and gave the company a buy rating in a research report on Thursday, November 16th. Piper Jaffray Companies set a $47.00 price target on L Brands and gave the company a hold rating in a research report on Thursday, November 16th. BMO Capital Markets increased their price target on L Brands to $49.00 and gave the company a market perform rating in a research report on Friday. Royal Bank Of Canada raised L Brands from a sector perform rating to an outperform rating and increased their price target for the company from $40.00 to $58.00 in a research report on Friday. Finally, Zacks Investment Research raised L Brands from a sell rating to a hold rating in a research report on Monday, November 6th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $48.11.
L Brands (NYSE LB) opened at $50.06 on Friday. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $75.50. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of -6.25. The firm has a market capitalization of $14,090.00, a P/E ratio of 16.08, a PEG ratio of 1.40 and a beta of 0.68.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts forecast that L Brands will post 3.13 EPS for the current fiscal year.
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L Brands announced that its board has authorized a share 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 buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Wednesday, November 22nd. L Brands’s dividend payout ratio (DPR) is presently 73.17%.
In related news, Director Allan R. Tessler bought 20,000 shares of the stock in a transaction dated Thursday, September 21st. The stock was bought at an average price of $37.00 per share, with a total value of $740,000.00. Following the purchase, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.68% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. ICICI Prudential Asset Management Co Ltd increased its holdings in L Brands by 14.9% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 11,600 shares of the specialty retailer’s stock valued at $483,000 after purchasing an additional 1,500 shares during the period. IFM Investors Pty Ltd purchased a new position in L Brands during the 3rd quarter valued at about $283,000. First Heartland Consultants Inc. purchased a new position in L Brands during the 3rd quarter valued at about $832,000. Griffin Asset Management Inc. purchased a new position in L Brands during the 3rd quarter valued at about $562,000. Finally, California Public Employees Retirement System increased its holdings in L Brands by 7.0% during the 3rd quarter. California Public Employees Retirement System now owns 585,641 shares of the specialty retailer’s stock valued at $24,369,000 after purchasing an additional 38,141 shares during the period. Institutional investors own 76.63% 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.
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