Traders bought shares of L Brands, Inc. (NYSE:LB) on weakness during trading hours on Thursday. $75.57 million flowed into the stock on the tick-up and $69.99 million flowed out of the stock on the tick-down, for a money net flow of $5.58 million into the stock. Of all equities tracked, L Brands had the 29th highest net in-flow for the day. L Brands traded down ($0.14) for the day and closed at $49.12
A number of equities research analysts recently weighed in on LB shares. Jefferies Group LLC set a $30.00 price target on L Brands and gave the company a “sell” rating in a research note on Monday, August 28th. FBR & Co restated an “outperform” rating and issued a $60.00 price target on shares of L Brands in a research note on Thursday, July 27th. Sanford C. Bernstein started coverage on L Brands in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $57.00 price target on the stock. Robert W. Baird restated a “hold” rating and issued a $44.00 price target on shares of L Brands in a research note on Friday, September 1st. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $40.00 price objective (down previously from $45.00) on shares of L Brands in a research report on Wednesday, September 13th. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $48.11.
The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a market capitalization of $13,940.00, a PE ratio of 15.11, a PEG ratio of 1.38 and a beta of 0.68.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. equities research analysts predict that L Brands, Inc. will post 3.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.75%. L Brands’s dividend payout ratio (DPR) is 73.17%.
L Brands declared that its Board of Directors has initiated a share buyback program on Monday, September 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Allan R. Tessler acquired 20,000 shares of the stock in a transaction dated Thursday, September 21st. The stock was bought 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 of the company’s stock, valued at $1,603,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.68% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of LB. Dimensional Fund Advisors LP increased its holdings in L Brands by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 476,306 shares of the specialty retailer’s stock worth $22,435,000 after purchasing an additional 6,806 shares in the last quarter. AQR Capital Management LLC increased its holdings in L Brands by 21.6% in the first quarter. AQR Capital Management LLC now owns 36,352 shares of the specialty retailer’s stock worth $1,712,000 after purchasing an additional 6,449 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in L Brands by 9.6% in the second quarter. State of Alaska Department of Revenue now owns 5,000 shares of the specialty retailer’s stock worth $269,000 after purchasing an additional 440 shares in the last quarter. LS Investment Advisors LLC increased its holdings in L Brands by 6.3% in the second quarter. LS Investment Advisors LLC now owns 8,662 shares of the specialty retailer’s stock worth $467,000 after purchasing an additional 515 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in L Brands by 64.8% in the second quarter. Nisa Investment Advisors LLC now owns 89,665 shares of the specialty retailer’s stock worth $4,759,000 after purchasing an additional 35,250 shares in the last quarter. Institutional investors and hedge funds own 80.71% of the company’s stock.
WARNING: This piece of content was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://ledgergazette.com/2017/11/18/investors-buy-l-brands-inc-lb-on-weakness.html.
About L Brands
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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.