Brokerages expect L Brands (NYSE:LB) to report earnings of $0.18 per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for L Brands’ earnings. The lowest EPS estimate is $0.15 and the highest is $0.21. L Brands posted earnings of $0.33 per share in the same quarter last year, which would indicate a negative year over year growth rate of 45.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, May 16th.
On average, analysts expect that L Brands will report full year earnings of $3.16 per share for the current fiscal year, with EPS estimates ranging from $2.97 to $3.29. For the next year, analysts expect that the company will report earnings of $3.38 per share, with EPS estimates ranging from $2.96 to $3.62. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover L Brands.
L Brands (NYSE:LB) last announced its 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. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.72 billion. L Brands had a negative return on equity of 101.69% and a net margin of 7.78%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.03 EPS.
Several analysts have weighed in on the company. Credit Suisse Group assumed coverage on L Brands in a research note on Monday, March 12th. They set a “neutral” rating and a $45.00 target price on the stock. Zacks Investment Research downgraded L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 11th. Guggenheim reaffirmed a “hold” rating on shares of L Brands in a research note on Thursday, April 12th. Scotiabank reaffirmed a “hold” rating and set a $59.00 target price on shares of L Brands in a research note on Wednesday, January 17th. Finally, Citigroup reaffirmed a “hold” rating and set a $58.00 target price on shares of L Brands in a research note on Friday, January 5th. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $49.37.
In other news, CFO Stuart B. Burgdoerfer sold 33,000 shares of L Brands stock in a transaction on Tuesday, March 13th. The stock was 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 in the company, valued at $2,961,789.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total value of $672,520.00. Following the transaction, the chief financial officer now 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.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of 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 buying an additional 1,364 shares in the last quarter. Gradient Investments LLC purchased a new position in shares of L Brands during the fourth quarter valued at $153,000. Steward Partners Investment Advisory LLC purchased a new position in shares of L Brands during the third quarter valued at $161,000. Sciencast Management LP purchased a new position in shares of L Brands during the fourth quarter valued at $202,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of L Brands during the fourth quarter valued at $202,000. Institutional investors and hedge funds own 81.11% of the company’s stock.
L Brands stock traded down $1.58 during mid-day trading on Friday, hitting $34.37. 5,343,199 shares of the company’s stock traded hands, compared to its average volume of 4,282,148. The company has a debt-to-equity ratio of -7.60, a current ratio of 1.62 and a quick ratio of 1.01. The company has a market capitalization of $10,147.44, a P/E ratio of 10.74, a PEG ratio of 0.99 and a beta of 0.78. L Brands has a one year low of $34.20 and a one year high of $63.10.
L Brands declared that its Board of Directors has initiated a share buyback 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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L Brands Company Profile
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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