L Brands (NYSE:LB) had its target price increased by Credit Suisse Group from $13.00 to $24.00 in a research note published on Wednesday morning, The Fly reports. Credit Suisse Group currently has a neutral rating on the specialty retailer’s stock.
A number of other research firms have also weighed in on LB. UBS Group dropped their target price on shares of L Brands from $14.00 to $12.75 and set a neutral rating for the company in a report on Tuesday, May 19th. Wells Fargo & Co increased their target price on shares of L Brands from $25.00 to $28.00 and gave the stock an overweight rating in a report on Friday, May 22nd. Telsey Advisory Group increased their target price on shares of L Brands from $15.00 to $23.00 and gave the stock a market perform rating in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of L Brands from a neutral rating to an overweight rating and set a $32.00 target price for the company in a report on Wednesday. Finally, BMO Capital Markets upgraded shares of L Brands from a market perform rating to an outperform rating and set a $17.00 target price for the company in a report on Tuesday, May 5th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $22.57.
Shares of NYSE:LB opened at $24.41 on Wednesday. The stock’s 50-day moving average price is $16.60 and its 200-day moving average price is $16.87. L Brands has a 12-month low of $8.00 and a 12-month high of $26.66. The stock has a market capitalization of $6.75 billion, a P/E ratio of -9.61, a price-to-earnings-growth ratio of 19.59 and a beta of 1.22.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 20th. The specialty retailer reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.28). L Brands had a negative net margin of 5.89% and a negative return on equity of 23.32%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the business posted $0.14 earnings per share. The firm’s quarterly revenue was down 37.1% compared to the same quarter last year. As a group, research analysts expect that L Brands will post 0.21 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new stake in L Brands in the 1st quarter worth approximately $32,000. Cullen Frost Bankers Inc. bought a new stake in L Brands in the 1st quarter worth approximately $63,000. J. W. Coons Advisors LLC bought a new stake in L Brands in the 1st quarter worth approximately $32,000. MML Investors Services LLC bought a new stake in L Brands in the 1st quarter worth approximately $126,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in L Brands in the 2nd quarter worth approximately $166,000. 77.28% of the stock is 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.
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