L Brands, Inc. (NYSE:LB) Given Outperform Rating at FBR & Co
A number of other equities research analysts have also recently commented on the stock. Buckingham Research reaffirmed a buy rating on shares of L Brands in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a sell rating and issued a $35.00 target price on shares of L Brands in a report on Thursday, April 6th. Pacific Crest cut shares of L Brands to a sell rating in a report on Tuesday, April 4th. Cowen and Company reaffirmed a buy rating and issued a $56.00 target price on shares of L Brands in a report on Thursday, April 6th. Finally, Instinet reaffirmed a neutral rating and issued a $48.00 target price (down from $52.00) on shares of L Brands in a report on Sunday, April 9th. 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’s stock. The company presently has a consensus rating of Hold and a consensus price target of $56.53.
Shares of L Brands (LB) traded up 1.237% during midday trading on Thursday, reaching $46.225. The company’s stock had a trading volume of 1,556,876 shares. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 12.174 and a beta of 0.65. L Brands has a 52 week low of $43.04 and a 52 week high of $79.67. The company has a 50 day moving average of $49.26 and a 200-day moving average of $51.86.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts predict that L Brands will post $3.23 earnings per share for the current year.
In other news, CEO Nicholas Coe sold 39,839 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were 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 directly owns 75,658 shares in the company, valued at $3,698,163.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.45% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of L Brands by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 469,500 shares of the specialty retailer’s stock worth $30,914,000 after buying an additional 10,133 shares during the period. Teachers Advisors LLC raised its stake in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock worth $19,647,000 after buying an additional 18,142 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of L Brands during the fourth quarter worth about $1,148,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of L Brands during the fourth quarter worth about $512,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of L Brands by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 208,818 shares of the specialty retailer’s stock worth $9,835,000 after buying an additional 5,194 shares during the period. Hedge funds and other institutional investors own 75.55% 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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