L Brands, Inc. (NYSE:LB) Hits New 52-Week Low at $41.15
L Brands, Inc. (NYSE:LB) hit a new 52-week low on Friday . The stock traded as low as $41.15 and last traded at $41.15, with a volume of 1,791,722 shares trading hands. The stock had previously closed at $41.24.
LB has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating on shares of L Brands in a research note on Tuesday, April 18th. Vetr downgraded shares of L Brands from a “strong-buy” rating to a “buy” rating and set a $55.51 price target on the stock. in a research note on Monday, April 24th. Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Buckingham Research reaffirmed a “buy” rating on shares of L Brands in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC set a $35.00 price target on shares of L Brands and gave the stock a “sell” rating in a research note on Thursday, May 4th. 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 stock has a consensus rating of “Hold” and an average target price of $55.76.
The company has a market capitalization of $11.78 billion, a P/E ratio of 10.812 and a beta of 0.62. The company has a 50 day moving average price of $46.97 and a 200-day moving average price of $50.79.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities analysts anticipate that L Brands, Inc. will post $3.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) is 63.16%.
In related news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. First Personal Financial Services increased its position in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares during the period. FNY Partners Fund LP acquired a new position in shares of L Brands during the first quarter worth about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of L Brands during the first quarter worth about $142,000. IFP Advisors Inc increased its position in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the period. Finally, Prospera Financial Services Inc increased its position in shares of L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock worth $200,000 after buying an additional 868 shares during the period. 75.43% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “L Brands, Inc. (NYSE:LB) Hits New 52-Week Low at $41.15” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/l-brands-inc-nyselb-hits-new-52-week-low-at-41-15/1473421.html.
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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.