L Brands (NYSE:LB) had its price target boosted by MKM Partners to $34.00 in a research report report published on Friday, The Fly reports. They currently have a neutral rating on the specialty retailer’s stock.
Several other analysts also recently weighed in on the company. Royal Bank of Canada set a $35.00 price objective on L Brands and gave the company a buy rating in a research report on Tuesday, August 21st. B. Riley lowered their price objective on L Brands from $49.00 to $44.00 and set a buy rating for the company in a research report on Thursday, August 23rd. Citigroup lowered their price objective on L Brands from $38.00 to $37.00 and set a buy rating for the company in a research report on Friday, August 24th. Goldman Sachs Group started coverage on L Brands in a research report on Thursday, October 25th. They issued a buy rating and a $36.00 price objective for the company. Finally, Morgan Stanley downgraded L Brands from an overweight rating to an equal weight rating and lowered their price objective for the company from $56.00 to $32.00 in a research report on Thursday, August 23rd. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $37.12.
NYSE:LB traded down $0.46 during mid-day trading on Friday, reaching $36.50. The stock had a trading volume of 6,577,714 shares, compared to its average volume of 5,075,303. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.21 and a beta of 0.33. L Brands has a one year low of $25.89 and a one year high of $63.10.
L Brands (NYSE:LB) last released its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.92 billion. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. L Brands’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. On average, research analysts anticipate that L Brands will post 2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 21st. This represents a $2.40 annualized dividend and a dividend yield of 6.58%. L Brands’s dividend payout ratio (DPR) is presently 75.00%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Brandes Investment Partners LP increased its stake in shares of L Brands by 275.8% during the second quarter. Brandes Investment Partners LP now owns 58,156 shares of the specialty retailer’s stock valued at $2,145,000 after buying an additional 42,680 shares during the period. Intact Investment Management Inc. purchased a new stake in L Brands in the second quarter worth $2,331,000. Ironwood Investment Counsel LLC grew its stake in L Brands by 27.7% in the third quarter. Ironwood Investment Counsel LLC now owns 19,238 shares of the specialty retailer’s stock worth $582,000 after purchasing an additional 4,177 shares during the period. Gateway Investment Advisers LLC purchased a new stake in L Brands in the second quarter worth $5,866,000. Finally, Bank of America Corp DE grew its stake in L Brands by 55.2% in the second quarter. Bank of America Corp DE now owns 651,871 shares of the specialty retailer’s stock worth $24,042,000 after purchasing an additional 231,777 shares during the period. 73.47% of the stock is currently owned by hedge funds and other 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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