L Brands (NYSE:LB) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.30-2.60 for the period, compared to the Thomson Reuters consensus estimate of $2.37. L Brands also updated its FY 2019 guidance to $2.30-2.60 EPS.
L Brands stock traded up $3.34 during midday trading on Thursday, reaching $24.84. The stock had a trading volume of 453,784 shares, compared to its average volume of 3,951,374. L Brands has a twelve month low of $21.47 and a twelve month high of $38.14. The stock has a market capitalization of $6.24 billion, a P/E ratio of 8.70, a PEG ratio of 0.88 and a beta of 0.51.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share for the quarter. L Brands had a negative return on equity of 73.73% and a net margin of 4.86%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that L Brands will post 2.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Thursday, May 30th. L Brands’s payout ratio is currently 42.55%.
LB has been the topic of several research reports. Zacks Investment Research raised L Brands from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research report on Tuesday, February 5th. Credit Suisse Group cut their price objective on L Brands from $30.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, February 28th. MKM Partners dropped their target price on L Brands from $29.00 to $26.00 and set a neutral rating on the stock in a research report on Thursday, February 28th. Sanford C. Bernstein lowered L Brands from an outperform rating to a market perform rating and set a $30.00 target price on the stock. in a research report on Friday, March 1st. Finally, B. Riley set a $41.00 target price on L Brands and gave the stock a buy rating in a research report on Thursday, February 28th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $33.08.
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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, 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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