L Brands Inc. (NYSE:LB) – Stock analysts at FBR & Co boosted their Q3 2018 earnings estimates for L Brands in a research report issued on Friday. FBR & Co analyst S. Anderson now forecasts that the brokerage will post earnings of $0.50 per share for the quarter, up from their prior forecast of $0.49. FBR & Co has a “Hold” rating and a $75.00 price objective on the stock. FBR & Co also issued estimates for L Brands’ FY2018 earnings at $4.01 EPS.
LB has been the subject of several other reports. Vetr upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $73.68 price objective for the company in a report on Wednesday, July 20th. Deutsche Bank AG reissued a “buy” rating on shares of L Brands in a research report on Sunday, July 10th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price target on shares of L Brands in a research report on Thursday, July 7th. Mizuho raised their price target on shares of L Brands from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. raised shares of L Brands from a “neutral” rating to a “buy” rating and raised their price target for the company from $73.00 to $94.00 in a research report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and a consensus target price of $78.32.
Shares of L Brands (NYSE:LB) traded up 3.53% on Monday, hitting $73.04. The stock had a trading volume of 2,113,555 shares. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 17.80 and a beta of 0.91. L Brands has a 1-year low of $60.00 and a 1-year high of $101.11. The firm has a 50 day moving average of $73.13 and a 200-day moving average of $73.00.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $2.89 billion for the quarter. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share.
Institutional investors have recently modified their holdings of the stock. Financial Architects Inc increased its position in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of L Brands during the second quarter valued at approximately $123,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock valued at $125,000 after buying an additional 572 shares during the last quarter. Global X Management Co. LLC increased its position in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock valued at $145,000 after buying an additional 124 shares during the last quarter. Institutional investors own 75.60% of the company’s stock.
In related news, COO Charles Mcguigan sold 23,687 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the transaction, the insider now owns 13,970 shares in the company, valued at $1,082,535.30. The disclosure for this sale can be found here. Insiders own 16.45% 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 and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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