Telsey Advisory Group reiterated their outperform rating on shares of L Brands (NYSE:LB) in a report published on Tuesday morning, MarketBeat.com reports. They currently have a $64.00 target price on the specialty retailer’s stock, up from their previous target price of $60.00.
A number of other research firms have also commented on LB. Nomura upped their price target on L Brands from $35.00 to $38.00 and gave the company a neutral rating in a research report on Friday, November 3rd. Jefferies Group reissued an underperform rating and issued a $32.00 price objective on shares of L Brands in a research note on Wednesday, August 9th. Oppenheimer set a $55.00 price objective on L Brands and gave the company a buy rating in a research note on Thursday, August 17th. Piper Jaffray Companies set a $47.00 price objective on L Brands and gave the company a hold rating in a research note on Thursday, November 16th. Finally, Buckingham Research boosted their price objective on L Brands from $40.00 to $50.00 and gave the company a neutral rating in a research note on Friday, November 17th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $49.07.
Shares of L Brands (NYSE:LB) opened at $55.85 on Tuesday. L Brands has a 52-week low of $35.00 and a 52-week high of $75.50. The company has a market capitalization of $15,911.02, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.55 and a beta of 0.79. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 1.4% on a year-over-year basis. equities research analysts expect that L Brands will post 3.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, November 22nd. L Brands’s dividend payout ratio is presently 72.95%.
L Brands declared that its board has initiated a stock repurchase plan on Monday, September 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the specialty retailer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler bought 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The stock was bought at an average cost of $37.00 per share, with a total value of $740,000.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is available at this link. Also, Director David T. Kollat bought 9,910 shares of L Brands stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, with a total value of $498,869.40. Following the completion of the acquisition, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The disclosure for this purchase can be found here. Corporate insiders own 16.68% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in L Brands by 0.3% during the second quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after purchasing an additional 53 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in L Brands by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after purchasing an additional 83 shares during the period. Louisiana State Employees Retirement System grew its holdings in L Brands by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock valued at $803,000 after purchasing an additional 100 shares during the period. Financial Advisors Network Inc. grew its holdings in L Brands by 2.8% during the second quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 134 shares during the period. Finally, Hedeker Wealth LLC lifted its position in shares of L Brands by 2.2% during the second quarter. Hedeker Wealth LLC now owns 11,701 shares of the specialty retailer’s stock worth $630,000 after acquiring an additional 247 shares in the last quarter. 78.49% of the stock is owned by institutional investors.
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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