L Brands (NYSE:LB) had its target price lowered by Nomura to $37.00 in a report released on Friday. The firm currently has a neutral rating on the specialty retailer’s stock.
Other equities analysts also recently issued research reports about the company. Wolfe Research increased their price objective on L Brands from $48.00 to $53.00 and gave the stock a peer perform rating in a report on Monday, February 12th. Telsey Advisory Group dropped their price objective on L Brands from $52.00 to $41.00 and set a market perform rating on the stock in a report on Friday. Scotiabank restated a hold rating and issued a $59.00 price objective on shares of L Brands in a report on Wednesday, January 17th. Cowen restated a hold rating and issued a $49.00 price objective on shares of L Brands in a report on Thursday, February 8th. Finally, Robert W. Baird set a $60.00 price objective on L Brands and gave the stock a hold rating in a report on Thursday, December 28th. Seven analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have given a buy rating to the company. L Brands has a consensus rating of Hold and a consensus price target of $49.37.
NYSE:LB opened at $36.39 on Friday. L Brands has a 52 week low of $35.00 and a 52 week high of $63.10. The company has a market capitalization of $10,212.36, a P/E ratio of 11.37, a PEG ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of -7.60, a quick ratio of 1.01 and a current ratio of 1.62.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. L Brands had a negative return on equity of 101.69% and a net margin of 7.78%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. sell-side analysts anticipate that L Brands will post 3.16 EPS for the current year.
L Brands announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 8th that authorizes the company to repurchase $226.90 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, CFO Stuart B. Burgdoerfer sold 17,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total value of $672,520.00. Following the completion of the transaction, the chief financial officer now directly owns 52,640 shares of the company’s stock, valued at $2,082,438.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $42.53, for a total value of $1,403,490.00. Following the completion of the transaction, the chief financial officer now directly owns 69,640 shares of the company’s stock, valued at $2,961,789.20. The disclosure for this sale can be found here. Company insiders own 17.32% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. American International Group Inc. lifted its position in L Brands by 74.8% in the fourth quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock worth $628,512,000 after purchasing an additional 4,466,237 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in L Brands by 29.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after purchasing an additional 935,259 shares during the period. Bank of New York Mellon Corp lifted its position in L Brands by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,638,420 shares of the specialty retailer’s stock worth $158,886,000 after purchasing an additional 40,263 shares during the period. Geode Capital Management LLC lifted its position in L Brands by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,618,820 shares of the specialty retailer’s stock worth $157,378,000 after purchasing an additional 68,751 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new position in L Brands in the fourth quarter worth $120,549,000. 81.11% of the stock is owned by hedge funds and other institutional investors.
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About L Brands
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include loungewear, bras, panties, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.
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