L Brands Inc (NYSE:LB) – Equities research analysts at B. Riley decreased their FY2018 earnings estimates for L Brands in a research report issued on Thursday. B. Riley analyst S. Anderson now anticipates that the specialty retailer will post earnings of $3.09 per share for the year, down from their prior forecast of $3.15. B. Riley currently has a “Buy” rating and a $58.00 target price on the stock. B. Riley also issued estimates for L Brands’ Q4 2018 earnings at $2.00 EPS.
Other equities analysts also recently issued reports about the stock. Scotiabank restated a “hold” rating and set a $67.00 target price on shares of L Brands in a report on Wednesday, November 22nd. Telsey Advisory Group restated an “outperform” rating and set a $64.00 target price (up from $60.00) on shares of L Brands in a report on Tuesday, November 28th. Robert W. Baird set a $60.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Thursday, December 28th. Barclays assumed coverage on shares of L Brands in a report on Tuesday, September 19th. They issued an “equal weight” rating and a $41.00 price objective on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $57.00 price objective on shares of L Brands in a report on Monday, September 18th. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $51.80.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in L Brands by 1.3% during the second quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock worth $1,037,783,000 after purchasing an additional 256,464 shares during the period. Vanguard Group Inc. lifted its position in L Brands by 3.1% during the second quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock worth $885,716,000 after purchasing an additional 495,987 shares during the period. FMR LLC lifted its position in L Brands by 2.8% during the second quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock worth $614,558,000 after purchasing an additional 305,365 shares during the period. State Street Corp lifted its position in L Brands by 0.3% during the second quarter. State Street Corp now owns 10,388,390 shares of the specialty retailer’s stock worth $559,827,000 after purchasing an additional 33,815 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after purchasing an additional 935,259 shares during the period. 78.68% of the stock is owned by institutional investors and hedge funds.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.68% of the company’s stock.
L Brands announced that its board has authorized a stock buyback program on Monday, September 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
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.
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