L Brands’ (NYSE:LB) same store sales climbed 5% during the month of May. L Brands’ shares climbed by 0% in the first full-day of trading following the report.
Several research firms recently commented on LB. UBS Group began coverage on shares of L Brands in a research note on Thursday. They issued a “neutral” rating and a $37.00 price target on the stock. Telsey Advisory Group reduced their price target on shares of L Brands from $52.00 to $41.00 and set a “market perform” rating on the stock in a research note on Friday, April 13th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $30.00 price target on shares of L Brands in a research note on Thursday, May 24th. Credit Suisse Group began coverage on shares of L Brands in a research note on Monday, March 12th. They issued a “neutral” rating and a $45.00 price target on the stock. Finally, Loop Capital began coverage on shares of L Brands in a research note on Thursday, March 8th. They issued a “hold” rating and a $45.00 price target on the stock. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.56.
In other news, Director Donna James sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $35.29, for a total value of $35,290.00. Following the sale, the director now directly owns 19,738 shares in the company, valued at approximately $696,554.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.32% of the stock is currently owned by company insiders.
NYSE:LB opened at $37.14 on Friday. L Brands has a fifty-two week low of $30.70 and a fifty-two week high of $63.10. The stock has a market capitalization of $9.97 billion, a PE ratio of 11.61, a PEG ratio of 1.12 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.83 and a debt-to-equity ratio of -5.90.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. L Brands had a net margin of 7.30% and a negative return on equity of 93.09%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $0.33 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. equities research analysts forecast that L Brands will post 2.79 EPS for the current year.
L Brands announced that its board has authorized a share repurchase plan on Thursday, March 8th that permits the company to repurchase $226.90 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date was Thursday, May 31st. L Brands’s dividend payout ratio is currently 75.00%.
Several large investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of L Brands in the 1st quarter valued at about $1,320,000. Nicola Wealth Management LTD. acquired a new stake in L Brands in the 1st quarter worth approximately $4,776,000. Suntrust Banks Inc. boosted its stake in L Brands by 78.5% in the 1st quarter. Suntrust Banks Inc. now owns 7,483 shares of the specialty retailer’s stock worth $285,000 after purchasing an additional 3,292 shares in the last quarter. BKD Wealth Advisors LLC boosted its stake in L Brands by 31.5% in the 1st quarter. BKD Wealth Advisors LLC now owns 25,791 shares of the specialty retailer’s stock worth $985,000 after purchasing an additional 6,172 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in L Brands by 205.4% in the 1st quarter. Allianz Asset Management GmbH now owns 43,626 shares of the specialty retailer’s stock worth $1,668,000 after purchasing an additional 29,343 shares in the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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