L Brands, Inc. (LB) PT Set at $58.00 by B. Riley
L Brands, Inc. (NYSE:LB) has been given a $58.00 target price by investment analysts at B. Riley in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the specialty retailer’s stock. B. Riley’s price target suggests a potential upside of 17.74% from the company’s previous close. B. Riley also issued estimates for L Brands’ Q4 2018 earnings at $2.10 EPS, FY2018 earnings at $3.20 EPS and FY2019 earnings at $3.51 EPS.
A number of other equities research analysts have also recently issued reports on the company. Jefferies Group LLC set a $30.00 target price on L Brands and gave the company a “sell” rating in a research note on Monday, August 28th. FBR & Co reiterated an “outperform” rating and issued a $60.00 target price on shares of L Brands in a research note on Thursday, July 27th. Sanford C. Bernstein initiated coverage on L Brands in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $57.00 target price on the stock. Credit Suisse Group set a $47.00 target price on L Brands and gave the company a “hold” rating in a research note on Wednesday, July 19th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $44.00 target price on shares of L Brands in a research note on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have issued a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and an average target price of $46.75.
L Brands (NYSE LB) opened at $49.26 on Thursday. L Brands has a one year low of $35.00 and a one year high of $75.50. The stock has a market capitalization of $13,985.12, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.38 and a beta of 0.67. The company has a debt-to-equity ratio of -6.25, a quick ratio of 1.05 and a current ratio of 1.68.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. analysts predict that L Brands will post 3.11 EPS for the current fiscal year.
L Brands announced that its Board of Directors has initiated a stock buyback plan on Monday, September 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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In other news, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The stock was acquired at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the acquisition, the director now directly owns 43,342 shares in the company, valued at $1,603,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.68% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. First Personal Financial Services lifted its holdings in shares of L Brands by 127.7% during the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,096 shares during the last quarter. IFP Advisors Inc lifted its holdings 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 last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in L Brands by 11.2% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after purchasing an additional 375 shares during the last quarter. Chesapeake Asset Management LLC acquired a new stake in L Brands in the 3rd quarter worth approximately $205,000. Finally, Allianz Asset Management GmbH acquired a new stake in L Brands in the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 80.71% 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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