L Brands Inc (NYSE:LB) has received a consensus recommendation of “Hold” from the twenty-five brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $28.24.
Several analysts have issued reports on the stock. Citigroup cut their price target on shares of L Brands from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday. Wells Fargo & Co set a $35.00 price target on shares of L Brands and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada lowered shares of L Brands from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $30.00 to $22.00 in a research report on Friday. Loop Capital cut their price target on shares of L Brands from $20.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday. Finally, Bank of America set a $30.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Thursday, May 23rd.
Several institutional investors have recently bought and sold shares of the company. First Mercantile Trust Co. bought a new position in L Brands in the second quarter worth about $32,000. Phocas Financial Corp. bought a new position in L Brands in the second quarter worth about $41,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in L Brands by 1,594.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock worth $83,000 after buying an additional 2,823 shares in the last quarter. Investors Research Corp bought a new position in L Brands in the first quarter worth about $127,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in L Brands by 65.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock worth $130,000 after buying an additional 1,857 shares in the last quarter. Institutional investors own 71.65% of the company’s stock.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. L Brands had a net margin of 4.37% and a negative return on equity of 72.98%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts expect that L Brands will post 2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.85%. L Brands’s dividend payout ratio is currently 42.55%.
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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