“We remain NEUTRAL rated. In March, total company comp sales increased 4%, or +2% excluding a 2% point benefit from an earlier Easter, ~in line with our +LSD expectations. The LB total comp increase of 4% (stores flat) included a 1% increase at Victoria’s Secret (stores -3%) and a 10% increase at Bath & Body Works (stores +9%). The company expects April comp sales results will be negatively impacted by 2-3% points from the Easter timing shift. For the total company, March sales increased 7% to $1.02bn. VS total comps increased 1% in March (stores -3%), decelerating m-o-m (+2% in Feb) despite benefits from an earlier Easter. VS comp growth was attributed to solid trends in Beauty and modest growth in Lingerie, partially offset by a decline in PINK (which was flat in February and grew slightly in 4Q).”,” the firm’s analyst wrote.
Other equities analysts have also issued research reports about the company. Wolfe Research upped their price target on L Brands from $48.00 to $53.00 and gave the company a peer perform rating in a research note on Monday, February 12th. Scotiabank reaffirmed a hold rating and issued a $59.00 price target on shares of L Brands in a research note on Wednesday, January 17th. Cowen reaffirmed a hold rating and issued a $49.00 price target on shares of L Brands in a research note on Thursday, February 8th. Robert W. Baird set a $60.00 price target on L Brands and gave the company a hold rating in a research note on Thursday, December 28th. Finally, MKM Partners set a $56.00 price target on L Brands and gave the company a hold rating in a research note on Friday, January 5th. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $49.59.
Shares of L Brands stock traded up $0.41 during trading hours on Thursday, hitting $36.58. The company’s stock had a trading volume of 1,763,403 shares, compared to its average volume of 4,806,271. L Brands has a twelve month low of $35.00 and a twelve month high of $63.10. The firm has a market cap of $10,700.67, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.04 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.62 and a debt-to-equity ratio of -7.60.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.06. L Brands had a negative return on equity of 101.69% and a net margin of 7.78%. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the company posted $2.03 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. equities analysts expect that L Brands will post 3.17 earnings per share for the current year.
L Brands declared that its board has initiated a share repurchase program on Thursday, March 8th that permits the company to buyback $226.90 million in outstanding shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other L Brands news, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total value of $672,520.00. Following the transaction, the chief financial officer now directly owns 52,640 shares in the company, valued at approximately $2,082,438.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of L Brands stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total value of $1,403,490.00. Following the completion of the transaction, the chief financial officer now owns 69,640 shares in the company, valued at $2,961,789.20. The disclosure for this sale can be found here. Company insiders own 16.68% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. American International Group Inc. lifted its holdings in shares of L Brands by 74.8% in the 4th quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock valued at $628,512,000 after buying an additional 4,466,237 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of L Brands in the 4th quarter valued at approximately $120,549,000. Victory Capital Management Inc. lifted its holdings in shares of L Brands by 1,045.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock valued at $65,745,000 after buying an additional 996,468 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of L Brands by 29.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after buying an additional 935,259 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in shares of L Brands in the 4th quarter valued at approximately $50,451,000. Institutional investors own 81.06% of the company’s stock.
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L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include loungewear, bras, panties, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.
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