L Brands, Inc. (NYSE:LB) had its price objective upped by investment analysts at BMO Capital Markets to $49.00 in a report released on Friday. The brokerage currently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ price target would suggest a potential downside of 2.93% from the stock’s current price.
Other analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) set a $59.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Oppenheimer Holdings, Inc. set a $55.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Deutsche Bank AG set a $56.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Buckingham Research reduced their price objective on L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Cowen and Company set a $40.00 price objective on L Brands and gave the company a “buy” rating in a research report on Friday, August 18th. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.11.
L Brands (NYSE LB) opened at $50.48 on Friday. L Brands has a one year low of $35.00 and a one year high of $75.50. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of -6.25. The firm has a market capitalization of $14,328.55, a price-to-earnings ratio of 16.08, a PEG ratio of 1.39 and a beta of 0.67.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. L Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. research analysts expect that L Brands will post 3.13 EPS for the current fiscal year.
L Brands announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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In related news, Director Allan R. Tessler acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were acquired at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LB. Janus Henderson Group PLC raised its holdings in shares of L Brands by 4,925.7% in the second quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock worth $91,776,000 after buying an additional 1,669,128 shares during the period. American Century Companies Inc. raised its holdings in shares of L Brands by 328.4% in the third quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock worth $51,615,000 after buying an additional 950,859 shares during the period. Flossbach Von Storch AG raised its holdings in shares of L Brands by 81.2% in the third quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock worth $85,468,000 after buying an additional 920,710 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of L Brands in the second quarter worth approximately $46,840,000. Finally, Scharf Investments LLC raised its holdings in shares of L Brands by 24.9% in the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock worth $161,248,000 after buying an additional 772,740 shares during the period. Hedge funds and other institutional investors own 80.71% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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