L Brands (NYSE:LB) announced its earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05, RTT News reports. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis.
Shares of NYSE LB opened at $18.87 on Friday. The firm has a fifty day moving average price of $20.53 and a 200-day moving average price of $24.22. L Brands has a 1 year low of $15.82 and a 1 year high of $38.00. The stock has a market cap of $5.28 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 0.67 and a beta of 0.76.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.30 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.36%. L Brands’s dividend payout ratio (DPR) is presently 42.55%.
Large investors have recently modified their holdings of the stock. First Mercantile Trust Co. bought a new position in shares of L Brands during the second quarter worth $32,000. Phocas Financial Corp. bought a new position in shares of L Brands during the second quarter worth $41,000. Investors Research Corp bought a new position in shares of L Brands during the first quarter worth $127,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of L Brands by 65.2% during the first 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. Finally, Trustcore Financial Services LLC bought a new position in shares of L Brands during the second quarter worth $130,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.
A number of analysts have commented on LB shares. Royal Bank of Canada cut shares of L Brands from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $30.00 to $22.00 in a report on Friday, August 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $21.00 target price (down from $30.00) on shares of L Brands in a report on Friday, August 23rd. MKM Partners reduced their target price on shares of L Brands from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. Citigroup reduced their target price on shares of L Brands from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, August 23rd. Finally, Wells Fargo & Co set a $35.00 target price on shares of L Brands and gave the company an “outperform” rating in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. L Brands currently has a consensus rating of “Hold” and an average price target of $26.43.
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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