L Brands, Inc. (NYSE:LB) had its target price raised by Buckingham Research from $40.00 to $50.00 in a research note released on Friday. Buckingham Research currently has a neutral rating on the specialty retailer’s stock.
Several other equities analysts also recently issued reports on LB. BMO Capital Markets set a $44.00 price target on shares of L Brands and gave the company a hold rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $32.00 price target on shares of L Brands and gave the company a sell rating in a report on Thursday, August 17th. B. Riley set a $58.00 price target on shares of L Brands and gave the company a buy rating in a report on Thursday. Instinet cut their price target on shares of L Brands from $43.00 to $38.00 and set a neutral rating for the company in a report on Thursday, August 17th. Finally, Nomura set a $38.00 price target on shares of L Brands and gave the company a hold rating in a report on Thursday, August 17th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. L Brands currently has a consensus rating of Hold and an average price target of $48.11.
Shares of L Brands (LB) traded up $1.36 during mid-day trading on Friday, reaching $50.48. 4,705,718 shares of the company traded hands, compared to its average volume of 4,227,492. L Brands has a 12-month low of $35.00 and a 12-month high of $75.50. The company has a market cap of $13,940.00, a P/E ratio of 15.11, a P/E/G ratio of 1.38 and a beta of 0.68. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of -6.25.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. equities research analysts predict that L Brands will post 3.11 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Wednesday, November 22nd. L Brands’s payout ratio is currently 73.17%.
L Brands announced that its Board of Directors has approved a share buyback program on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler acquired 20,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 16.68% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. First Personal Financial Services lifted 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 purchasing an additional 1,096 shares in the last quarter. IFP Advisors Inc lifted its position in shares of L Brands by 52.1% in the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after purchasing an additional 1,618 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after purchasing an additional 375 shares in the last quarter. Chesapeake Asset Management LLC bought a new stake in shares of L Brands in the third quarter worth $205,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of L Brands in the third quarter worth $206,000. 80.71% of the stock is currently owned by institutional investors and hedge funds.
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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