L Brands’ March Same-Store Sales Numbers Beat Analysts’ Expectations (NYSE:LB)

L Brands’ (NYSE:LB) same store sales rose 4% during the month of March. L Brands’ stock climbed by 0% in the first full-day of trading following the report.

Several research analysts have issued reports on the stock. Telsey Advisory Group decreased their target price on shares of L Brands from $52.00 to $41.00 and set a “market perform” rating for the company in a report on Friday. Credit Suisse Group decreased their target price on shares of L Brands from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Friday. Robert W. Baird reaffirmed a “buy” rating and issued a $55.00 target price on shares of L Brands in a report on Thursday, April 12th. Guggenheim reaffirmed a “hold” rating on shares of L Brands in a report on Thursday, April 12th. Finally, Nomura decreased their target price on shares of L Brands to $37.00 and set a “neutral” rating for the company in a report on Friday. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.37.

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In other L Brands news, CFO Stuart B. Burgdoerfer sold 33,000 shares of L Brands stock in a transaction that occurred 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 transaction, the chief financial officer now owns 69,640 shares of the company’s stock, valued at $2,961,789.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total transaction of $672,520.00. Following the transaction, the chief financial officer now directly owns 52,640 shares in the company, valued at approximately $2,082,438.40. The disclosure for this sale can be found here. Insiders own 17.32% of the company’s stock.

Shares of NYSE:LB opened at $36.39 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.01 and a debt-to-equity ratio of -7.60. L Brands has a 1-year low of $35.00 and a 1-year high of $63.10. The company has a market cap of $10,212.36, a price-to-earnings ratio of 11.37, a PEG ratio of 1.00 and a beta of 0.78.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. L Brands had a net margin of 7.78% and a negative return on equity of 101.69%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. equities research analysts predict that L Brands will post 3.16 EPS for the current fiscal year.

L Brands declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 8th that permits the company to buyback $226.90 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of large investors have recently modified their holdings of the business. HPM Partners LLC lifted its holdings in L Brands by 16.0% during the fourth quarter. HPM Partners LLC now owns 8,274 shares of the specialty retailer’s stock valued at $498,000 after purchasing an additional 1,143 shares in the last quarter. Profund Advisors LLC lifted its holdings in L Brands by 17.9% during the fourth quarter. Profund Advisors LLC now owns 8,261 shares of the specialty retailer’s stock valued at $497,000 after purchasing an additional 1,257 shares in the last quarter. Meadow Creek Investment Management LLC lifted its holdings in L Brands by 14.6% during the fourth quarter. Meadow Creek Investment Management LLC now owns 9,912 shares of the specialty retailer’s stock valued at $597,000 after purchasing an additional 1,260 shares in the last quarter. Sigma Planning Corp lifted its holdings in L Brands by 18.7% during the fourth quarter. Sigma Planning Corp now owns 8,589 shares of the specialty retailer’s stock valued at $517,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in L Brands by 182.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares in the last quarter. 81.11% of the stock is currently owned by institutional investors and hedge funds.

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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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