L Brands Inc (NYSE:LB) – Analysts at KeyCorp boosted their Q1 2021 earnings estimates for L Brands in a research note issued on Thursday, January 16th. KeyCorp analyst E. Yruma now forecasts that the specialty retailer will post earnings of $0.15 per share for the quarter, up from their previous forecast of $0.14. KeyCorp also issued estimates for L Brands’ FY2021 earnings at $2.35 EPS.
Several other research analysts have also issued reports on the stock. Deutsche Bank raised shares of L Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $22.00 to $24.00 in a research note on Friday, January 10th. B. Riley reissued a “buy” rating and set a $30.00 target price on shares of L Brands in a research note on Thursday, November 21st. Zacks Investment Research lowered shares of L Brands from a “hold” rating to a “strong sell” rating and set a $17.00 target price on the stock. in a research note on Wednesday. Wedbush increased their target price on shares of L Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Finally, Barclays initiated coverage on shares of L Brands in a research note on Tuesday, November 12th. They set an “underweight” rating and a $16.00 target price on the stock. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. L Brands currently has a consensus rating of “Hold” and an average target price of $21.84.
NYSE LB traded down $0.29 on Friday, hitting $20.00. 1,533,113 shares of the company were exchanged, compared to its average volume of 8,381,755. The company has a market cap of $5.61 billion, a PE ratio of 7.09, a PEG ratio of 0.78 and a beta of 0.79. L Brands has a 12 month low of $15.80 and a 12 month high of $29.02. The stock has a fifty day moving average of $18.45 and a 200-day moving average of $19.84.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.69 billion. L Brands had a net margin of 2.80% and a negative return on equity of 72.15%. L Brands’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share.
Hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC purchased a new stake in L Brands during the second quarter worth about $57,287,000. State Street Corp increased its stake in shares of L Brands by 9.0% in the third quarter. State Street Corp now owns 11,928,770 shares of the specialty retailer’s stock worth $233,685,000 after purchasing an additional 983,063 shares in the last quarter. BlackRock Inc. increased its stake in shares of L Brands by 5.1% in the second quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock worth $520,550,000 after purchasing an additional 970,548 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of L Brands in the third quarter worth about $10,236,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of L Brands by 53.2% in the second quarter. UBS Asset Management Americas Inc. now owns 1,296,704 shares of the specialty retailer’s stock worth $33,844,000 after purchasing an additional 450,324 shares in the last quarter. Institutional investors own 71.30% 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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