L Brands Inc. (NYSE:LB)‘s stock had its “buy” rating reiterated by equities researchers at Mizuho in a report issued on Monday. They currently have a $85.00 price objective on the stock. Mizuho’s price objective suggests a potential upside of 13.03% from the company’s previous close.
Several other research firms have also recently issued reports on LB. Morgan Stanley reissued a “buy” rating and issued a $80.00 price target on shares of L Brands in a research note on Tuesday, August 23rd. Jefferies Group reaffirmed a “hold” rating on shares of L Brands in a research note on Tuesday, August 23rd. Vetr cut L Brands from a “hold” rating to a “sell” rating and set a $73.68 target price for the company. in a research note on Thursday, August 18th. Citigroup Inc. raised their target price on L Brands from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Finally, Stifel Nicolaus set a $90.00 target price on L Brands and gave the company a “buy” rating in a research note on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.52.
L Brands (NYSE:LB) opened at 74.38 on Monday. The firm has a market cap of $21.27 billion, a P/E ratio of 18.13 and a beta of 0.80. The company has a 50-day moving average of $74.36 and a 200 day moving average of $74.41. L Brands has a 52 week low of $60.00 and a 52 week high of $101.11.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The company earned $2.89 billion during the quarter. During the same period in the previous year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict that L Brands will post $3.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, August 17th. L Brands’s dividend payout ratio (DPR) is currently 58.68%.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the sale, the insider now owns 13,970 shares of the company’s stock, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Financial Architects Inc increased its stake 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 worth $117,000 after buying an additional 631 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of L Brands during the second quarter worth approximately $123,000. Whittier Trust Co. of Nevada Inc. increased its stake 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 worth $125,000 after buying an additional 572 shares in the last quarter. Global X Management Co. LLC increased its stake 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 worth $138,000 after buying an additional 1,016 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake 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 worth $145,000 after buying an additional 124 shares in the last quarter. Institutional investors own 75.60% 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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