L Brands Inc (NYSE:LB) – Investment analysts at Wedbush increased their FY2019 earnings per share estimates for L Brands in a research note issued on Tuesday, January 8th. Wedbush analyst J. Redding now anticipates that the specialty retailer will post earnings per share of $2.68 for the year, up from their previous estimate of $2.63. Wedbush also issued estimates for L Brands’ Q4 2019 earnings at $1.99 EPS, Q3 2020 earnings at $0.13 EPS and FY2020 earnings at $2.70 EPS.
L Brands (NYSE:LB) last announced its earnings results on Monday, November 19th. The specialty retailer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.70 billion. L Brands had a negative return on equity of 76.28% and a net margin of 5.81%. L Brands’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS.
A number of other brokerages have also recently commented on LB. MKM Partners increased their target price on L Brands to $34.00 and gave the company a “neutral” rating in a report on Friday, November 9th. Loop Capital set a $24.00 target price on L Brands and gave the company a “sell” rating in a report on Thursday, November 8th. Zacks Investment Research restated a “buy” rating and set a $35.00 price objective on shares of L Brands in a report on Tuesday, November 13th. UBS Group raised their price objective on L Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, November 20th. Finally, Citigroup began coverage on L Brands in a report on Thursday, December 20th. They set a “market weight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $37.99.
Shares of NYSE:LB opened at $26.46 on Thursday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 0.96 and a beta of 0.65. L Brands has a one year low of $23.71 and a one year high of $53.39.
In related news, Director Raymond Zimmerman sold 6,385 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total value of $180,887.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.32% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of LB. Malaga Cove Capital LLC raised its position in L Brands by 3.2% in the third quarter. Malaga Cove Capital LLC now owns 51,559 shares of the specialty retailer’s stock valued at $1,573,000 after purchasing an additional 1,603 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in L Brands by 14.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,244 shares of the specialty retailer’s stock valued at $401,000 after purchasing an additional 1,661 shares during the period. Norinchukin Bank The raised its position in L Brands by 5.8% in the third quarter. Norinchukin Bank The now owns 31,785 shares of the specialty retailer’s stock valued at $963,000 after purchasing an additional 1,734 shares during the period. IFM Investors Pty Ltd raised its position in L Brands by 17.5% in the third quarter. IFM Investors Pty Ltd now owns 12,644 shares of the specialty retailer’s stock valued at $383,000 after purchasing an additional 1,887 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in L Brands by 12.2% in the third quarter. Commonwealth Equity Services LLC now owns 18,104 shares of the specialty retailer’s stock valued at $548,000 after purchasing an additional 1,966 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.
About L Brands
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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