L Brands (NYSE:LB) had its target price reduced by UBS Group from $24.00 to $19.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the specialty retailer’s stock.
A number of other research firms have also recently weighed in on LB. Royal Bank of Canada cut L Brands from an outperform rating to a sector perform rating and lowered their price objective for the company from $30.00 to $22.00 in a research report on Friday, August 23rd. Guggenheim reaffirmed a hold rating on shares of L Brands in a research report on Tuesday. DA Davidson set a $20.00 price objective on L Brands and gave the company a hold rating in a research report on Friday, August 23rd. Citigroup lowered their price objective on L Brands from $27.00 to $21.00 and set a neutral rating on the stock in a research report on Friday, August 23rd. Finally, Credit Suisse Group set a $22.00 price objective on L Brands and gave the company a hold rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $26.43.
Shares of LB stock traded down $0.14 during trading hours on Wednesday, reaching $18.87. 6,758,738 shares of the company traded hands, compared to its average volume of 7,539,934. L Brands has a 12-month low of $15.82 and a 12-month high of $38.00. The company has a market cap of $5.15 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.67 and a beta of 0.76. The firm has a 50-day moving average price of $20.53 and a 200 day moving average price of $24.22.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts expect that L Brands will post 2.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.30 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 6.36%. L Brands’s dividend payout ratio is presently 42.55%.
A number of hedge funds and other institutional investors have recently bought and sold shares of LB. First Mercantile Trust Co. purchased a new position in L Brands in the 2nd quarter worth approximately $32,000. Phocas Financial Corp. bought a new stake in L Brands in the 2nd quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. increased its stake in L Brands by 65.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock worth $130,000 after acquiring an additional 1,857 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in L Brands in the 2nd quarter worth approximately $130,000. Finally, City Holding Co. increased its stake in L Brands by 360.6% in the 2nd quarter. City Holding Co. now owns 6,131 shares of the specialty retailer’s stock worth $160,000 after acquiring an additional 4,800 shares during the last quarter. 70.07% of the stock is currently owned by institutional investors.
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.
Read More: How to invest in blue-chip stocks
Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.