L Brands (LB) Bonds Rise 1.5% During Trading

An issue of L Brands Inc (NYSE:LB) bonds rose 1.5% against their face value during trading on Thursday. The high-yield debt issue has a 5.25% coupon and will mature on February 1, 2028. The debt is now trading at $85.50 and was trading at $86.50 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several brokerages recently issued reports on LB. Nomura upped their price target on L Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday. MKM Partners set a $31.00 price objective on L Brands and gave the company a “hold” rating in a research note on Friday. Robert W. Baird reduced their price objective on L Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, August 23rd. ValuEngine downgraded L Brands from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Finally, UBS Group started coverage on L Brands in a research note on Thursday, June 21st. They issued a “neutral” rating and a $37.00 price objective for the company. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.76.

Shares of LB stock traded up $1.17 on Friday, hitting $31.38. 6,894,523 shares of the stock were exchanged, compared to its average volume of 5,056,761. The company has a debt-to-equity ratio of -5.09, a quick ratio of 0.75 and a current ratio of 1.46. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.05 and a beta of 0.51. L Brands Inc has a one year low of $25.89 and a one year high of $63.10.

L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.92 billion. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 EPS. Equities analysts predict that L Brands Inc will post 2.51 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in L Brands by 26.5% during the 1st quarter. Franklin Resources Inc. now owns 59,312 shares of the specialty retailer’s stock worth $2,266,000 after purchasing an additional 12,429 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in L Brands by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 551,282 shares of the specialty retailer’s stock worth $21,064,000 after purchasing an additional 32,012 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in L Brands during the 1st quarter worth about $504,000. BB&T Securities LLC lifted its holdings in L Brands by 66.5% during the 1st quarter. BB&T Securities LLC now owns 39,358 shares of the specialty retailer’s stock worth $1,503,000 after purchasing an additional 15,724 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in L Brands by 230.3% during the 1st quarter. Baird Financial Group Inc. now owns 86,160 shares of the specialty retailer’s stock worth $3,292,000 after purchasing an additional 60,073 shares in the last quarter. Institutional investors own 73.42% of the company’s stock.

About L Brands (NYSE:LB)

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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