Royal Bank Of Canada upgraded shares of L Brands, Inc. (NYSE:LB) from a sector perform rating to an outperform rating in a report published on Friday. They currently have $58.00 price target on the specialty retailer’s stock, up from their previous price target of $40.00.
Other equities analysts have also issued research reports about the stock. Instinet cut their price target on shares of L Brands from $43.00 to $38.00 and set a neutral rating on the stock in a report on Thursday, August 17th. The Goldman Sachs Group, Inc. set a $59.00 price target on shares of L Brands and gave the stock a buy rating in a report on Thursday, August 17th. Cowen and Company set a $40.00 price target on shares of L Brands and gave the stock a buy rating in a report on Friday, August 18th. BidaskClub lowered shares of L Brands from a sell rating to a strong sell rating in a report on Tuesday, August 22nd. Finally, UBS AG cut their price target on shares of L Brands from $52.00 to $44.00 and set a neutral rating on the stock in a report on Friday, August 4th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. L Brands has a consensus rating of Hold and an average price target of $48.11.
Shares of L Brands (NYSE:LB) traded up $1.36 during trading hours on Friday, hitting $50.48. 4,705,718 shares of the stock were exchanged, compared to its average volume of 4,227,492. The firm has a market capitalization of $13,940.00, a price-to-earnings ratio of 15.11, a PEG ratio of 1.38 and a beta of 0.68. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of -6.25. L Brands has a 52 week low of $35.00 and a 52 week high of $75.50.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.57 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. L Brands’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. research analysts anticipate that L Brands will post 3.11 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, November 22nd. L Brands’s dividend payout ratio (DPR) is presently 73.17%.
L Brands declared that its board has authorized a share buyback plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Allan R. Tessler bought 20,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were purchased at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the purchase, the director now directly owns 43,342 shares in the company, valued at $1,603,654. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 16.68% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in L Brands by 1.3% in the second quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock valued at $1,037,783,000 after acquiring an additional 256,464 shares during the last quarter. Vanguard Group Inc. boosted its stake in L Brands by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock valued at $885,716,000 after acquiring an additional 495,987 shares during the last quarter. FMR LLC boosted its stake in L Brands by 2.8% in the second quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock valued at $614,558,000 after acquiring an additional 305,365 shares during the last quarter. State Street Corp boosted its stake in L Brands by 0.3% in the second quarter. State Street Corp now owns 10,388,390 shares of the specialty retailer’s stock valued at $559,827,000 after acquiring an additional 33,815 shares during the last quarter. Finally, Scharf Investments LLC boosted its stake in L Brands by 24.9% in the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock valued at $161,248,000 after acquiring an additional 772,740 shares during the last quarter. Hedge funds and other institutional investors own 80.71% of the company’s stock.
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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