Wall Street analysts expect L Brands, Inc. (NYSE:LB) to announce $2.90 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for L Brands’ earnings, with estimates ranging from $2.79 billion to $3.04 billion. L Brands posted sales of $1.65 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 75.8%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 19th.
According to Zacks, analysts expect that L Brands will report full year sales of $13.73 billion for the current financial year, with estimates ranging from $13.00 billion to $14.38 billion. For the next financial year, analysts expect that the business will post sales of $14.35 billion, with estimates ranging from $13.58 billion to $15.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow L Brands.
L Brands (NYSE:LB) last posted its quarterly earnings data on Tuesday, February 23rd. The specialty retailer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.12. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.95 billion. L Brands had a negative return on equity of 37.40% and a negative net margin of 1.77%. During the same period last year, the company earned $1.88 EPS.
A number of equities research analysts recently issued reports on LB shares. Credit Suisse Group raised their price target on L Brands from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, March 29th. Zacks Investment Research upgraded L Brands from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, March 2nd. Wells Fargo & Company raised their price objective on L Brands from $65.00 to $75.00 in a report on Thursday, February 25th. MKM Partners raised their price objective on L Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $88.00 price target (up from $78.00) on shares of L Brands in a report on Friday, March 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $59.68.
Shares of NYSE:LB traded down $1.78 during trading on Thursday, hitting $65.85. The company had a trading volume of 3,192,735 shares, compared to its average volume of 4,062,209. L Brands has a one year low of $10.03 and a one year high of $68.29. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of -84.42, a price-to-earnings-growth ratio of 1.14 and a beta of 1.66. The company has a fifty day simple moving average of $63.83 and a two-hundred day simple moving average of $47.72.
In other news, Director Leslie H. Wexner sold 3,050,000 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $58.31, for a total transaction of $177,845,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia S. Bellinger bought 3,666 shares of the firm’s stock in a transaction dated Friday, February 26th. The shares were acquired at an average price of $54.53 per share, with a total value of $199,906.98. Following the purchase, the director now directly owns 3,666 shares of the company’s stock, valued at approximately $199,906.98. The disclosure for this purchase can be found here. Insiders sold 3,137,127 shares of company stock worth $182,611,443 in the last three months. 17.83% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of L Brands during the first quarter worth about $3,356,000. Commonwealth Equity Services LLC lifted its position in L Brands by 24.1% in the first quarter. Commonwealth Equity Services LLC now owns 76,771 shares of the specialty retailer’s stock valued at $4,749,000 after purchasing an additional 14,923 shares during the period. Oxinas Partners Wealth Management LLC lifted its position in L Brands by 49.8% in the first quarter. Oxinas Partners Wealth Management LLC now owns 22,977 shares of the specialty retailer’s stock valued at $1,421,000 after purchasing an additional 7,642 shares during the period. Victory Capital Management Inc. lifted its position in L Brands by 11.8% in the first quarter. Victory Capital Management Inc. now owns 931,562 shares of the specialty retailer’s stock valued at $57,626,000 after purchasing an additional 98,234 shares during the period. Finally, Valmark Advisers Inc. acquired a new stake in L Brands in the first quarter valued at about $312,000. Institutional investors and hedge funds own 76.09% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates as a retailer of home fragrance products, body care products, soaps and sanitizers, women's intimate and other apparel, and personal and beauty care products. It operates in two segments, Bath & Body Works and Victoria's Secret. The Bath & Body Works segment sells body care, home fragrance products, soaps, and sanitizers under the Bath & Body Works, White Barn, C.O.
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