L Brands (NYSE:LB) had its price objective boosted by Wedbush from $12.00 to $20.00 in a report published on Wednesday, The Fly reports. Wedbush also issued estimates for L Brands’ Q2 2021 earnings at ($0.64) EPS, Q3 2021 earnings at ($0.18) EPS, Q4 2021 earnings at $1.45 EPS, FY2021 earnings at ($0.37) EPS and FY2022 earnings at $1.75 EPS.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research upgraded L Brands from a strong sell rating to a hold rating and set a $20.00 target price on the stock in a report on Tuesday, July 28th. Barclays upped their target price on L Brands from $10.00 to $17.00 and gave the stock an equal weight rating in a report on Friday, May 22nd. KeyCorp upped their target price on L Brands from $25.00 to $28.00 and gave the stock an overweight rating in a report on Wednesday. Royal Bank of Canada reduced their target price on L Brands from $24.00 to $14.00 and set a sector perform rating on the stock in a report on Wednesday, April 15th. Finally, Deutsche Bank upped their target price on L Brands from $16.00 to $27.00 in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $22.57.
LB opened at $24.41 on Wednesday. The business has a 50 day simple moving average of $16.60 and a two-hundred day simple moving average of $16.87. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 19.59 and a beta of 1.22. L Brands has a one year low of $8.00 and a one year high of $26.66.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 20th. The specialty retailer reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.28). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.75 billion. L Brands had a negative net margin of 5.89% and a negative return on equity of 23.32%. The company’s revenue for the quarter was down 37.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, analysts anticipate that L Brands will post 0.21 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund lifted its position in L Brands by 2.7% in the 1st quarter. Texas Permanent School Fund now owns 42,189 shares of the specialty retailer’s stock valued at $488,000 after acquiring an additional 1,095 shares in the last quarter. Mackay Shields LLC lifted its holdings in shares of L Brands by 3.7% during the 2nd quarter. Mackay Shields LLC now owns 36,038 shares of the specialty retailer’s stock valued at $539,000 after buying an additional 1,270 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of L Brands by 4.7% during the 1st quarter. State of Alaska Department of Revenue now owns 39,971 shares of the specialty retailer’s stock valued at $462,000 after buying an additional 1,802 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of L Brands by 4.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 45,700 shares of the specialty retailer’s stock valued at $684,000 after buying an additional 1,950 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of L Brands by 8.5% during the 1st quarter. Federated Hermes Inc. now owns 30,092 shares of the specialty retailer’s stock valued at $348,000 after buying an additional 2,354 shares during the period. 77.28% 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.
Featured Story: When can a hold rating present a buying opportunity?
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.