Wall Street brokerages predict that L Brands Inc (NYSE:LB) will post sales of $2.60 billion for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for L Brands’ earnings, with the highest sales estimate coming in at $2.63 billion and the lowest estimate coming in at $2.51 billion. L Brands posted sales of $2.44 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 16th.
According to Zacks, analysts expect that L Brands will report full-year sales of $2.60 billion for the current year, with estimates ranging from $12.44 billion to $13.38 billion. For the next year, analysts expect that the firm will report sales of $13.54 billion per share, with estimates ranging from $12.50 billion to $13.82 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover L Brands.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.06. L Brands had a negative return on equity of 96.25% and a net margin of 7.78%. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the firm earned $2.03 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis.
Several analysts have recently commented on the stock. B. Riley set a $58.00 price target on shares of L Brands and gave the company a “buy” rating in a research report on Thursday, November 16th. Northcoast Research raised shares of L Brands from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 7th. Deutsche Bank reduced their price target on shares of L Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Robert W. Baird set a $63.00 target price on L Brands and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $52.00 target price on shares of L Brands in a research report on Thursday, March 1st. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.33.
In related news, CFO Stuart B. Burgdoerfer sold 33,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total transaction of $1,403,490.00. Following the completion of the transaction, the chief financial officer now owns 69,640 shares in the company, valued at $2,961,789.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 16.68% of the company’s stock.
Several hedge funds have recently modified their holdings of LB. Xact Kapitalforvaltning AB boosted its stake in L Brands by 7.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 44,304 shares of the specialty retailer’s stock valued at $2,668,000 after acquiring an additional 3,130 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in L Brands by 6.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 90,893 shares of the specialty retailer’s stock valued at $5,474,000 after acquiring an additional 5,278 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in L Brands by 10.6% in the fourth quarter. Griffin Asset Management Inc. now owns 14,922 shares of the specialty retailer’s stock valued at $899,000 after acquiring an additional 1,425 shares in the last quarter. Sawtooth Solutions LLC acquired a new position in L Brands in the fourth quarter valued at $1,026,000. Finally, We Are One Seven LLC acquired a new position in L Brands in the fourth quarter valued at $1,263,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
L Brands (LB) traded down $0.48 during trading hours on Tuesday, hitting $40.56. The stock had a trading volume of 8,494,275 shares, compared to its average volume of 4,977,317. L Brands has a 52-week low of $35.00 and a 52-week high of $63.10. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60. The firm has a market cap of $11,657.55, a PE ratio of 11.79, a PEG ratio of 1.13 and a beta of 0.59.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.92%. L Brands’s payout ratio is currently 69.77%.
L Brands declared that its Board of Directors has approved a share repurchase program on Thursday, March 8th that permits the company to buyback $226.90 million in shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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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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