L Brands, Inc. to Issue Quarterly Dividend of $0.60 (LB)
L Brands, Inc. (NYSE:LB) announced a quarterly dividend on Friday, November 10th, RTT News reports. Shareholders of record on Friday, November 24th will be paid a dividend of 0.60 per share by the specialty retailer on Friday, December 8th. This represents a $2.40 annualized dividend and a yield of 4.83%.
L Brands has increased its dividend by an average of 26.0% per year over the last three years and has increased its dividend every year for the last 6 years. L Brands has a dividend payout ratio of 74.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect L Brands to earn $3.17 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 75.7%.
Shares of L Brands (NYSE:LB) opened at $49.66 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of -6.25. The stock has a market capitalization of $13,695.59, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. L Brands has a 52-week low of $35.00 and a 52-week high of $75.50.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. equities research analysts forecast that L Brands will post 3.12 earnings per share for the current fiscal year.
LB has been the topic of several recent research reports. Jefferies Group LLC set a $30.00 target price on L Brands and gave the company a “sell” rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of L Brands in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a “hold” rating and set a $44.00 target price on shares of L Brands in a research report on Friday, September 1st. Buckingham Research lowered their price objective on L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $40.00 price objective (down previously from $45.00) on shares of L Brands in a research report on Wednesday, September 13th. Six 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. The stock currently has an average rating of “Hold” and an average target price of $46.75.
L Brands announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the purchase, the director now directly owns 43,342 shares in the company, valued at $1,603,654. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.68% 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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