Wall Street analysts expect that L Brands Inc (NYSE:LB) will announce $2.70 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for L Brands’ earnings, with the lowest sales estimate coming in at $2.62 billion and the highest estimate coming in at $2.77 billion. L Brands posted sales of $2.77 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings results on Monday, November 18th.
According to Zacks, analysts expect that L Brands will report full-year sales of $13.09 billion for the current financial year, with estimates ranging from $12.71 billion to $13.26 billion. For the next year, analysts forecast that the business will report sales of $13.32 billion, with estimates ranging from $12.26 billion to $13.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow L Brands.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. L Brands’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS.
LB has been the topic of a number of research reports. Sanford C. Bernstein reissued a “market perform” rating and set a $21.00 price objective (down from $30.00) on shares of L Brands in a report on Friday, August 23rd. Guggenheim reissued a “hold” rating on shares of L Brands in a report on Tuesday. Citigroup decreased their price objective on L Brands from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Morgan Stanley decreased their price objective on L Brands from $34.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Finally, Jefferies Financial Group set a $16.00 price objective on L Brands and gave the company a “sell” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.43.
Shares of NYSE LB traded down $0.05 during trading hours on Tuesday, reaching $18.96. 275,301 shares of the stock traded hands, compared to its average volume of 7,553,367. The company has a market capitalization of $5.28 billion, a P/E ratio of 6.70, a price-to-earnings-growth ratio of 0.67 and a beta of 0.76. L Brands has a 52-week low of $15.82 and a 52-week high of $38.00. The company’s 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $24.26.
The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.20 annualized dividend and a yield of 6.33%. L Brands’s payout ratio is 42.55%.
Several hedge funds have recently modified their holdings of the company. Treasurer of the State of North Carolina grew its position in shares of L Brands by 7.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 169,325 shares of the specialty retailer’s stock worth $4,419,000 after buying an additional 11,870 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of L Brands by 139.1% in the 2nd quarter. Mackenzie Financial Corp now owns 340,458 shares of the specialty retailer’s stock worth $8,886,000 after buying an additional 198,042 shares during the last quarter. BlackRock Inc. grew its position in shares of L Brands by 5.1% in the 2nd quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock worth $520,550,000 after buying an additional 970,548 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of L Brands in the 2nd quarter worth approximately $41,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of L Brands by 8.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,282 shares of the specialty retailer’s stock worth $425,000 after buying an additional 1,212 shares during the last quarter. Hedge funds and other institutional investors own 70.07% of the company’s stock.
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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