Equities research analysts expect L Brands Inc (NYSE:LB) to 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 highest sales estimate coming in at $2.77 billion and the lowest estimate coming in at $2.62 billion. L Brands reported sales of $2.77 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 2.5%. The company is scheduled to announce its next 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 fiscal year, analysts anticipate that the business will report sales of $13.32 billion, with estimates ranging from $12.26 billion to $13.83 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for L Brands.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The company had revenue of $2.90 billion during 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%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share.
A number of research firms recently weighed in on LB. Royal Bank of Canada lowered L Brands from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $30.00 to $22.00 in a report on Friday, August 23rd. Jefferies Financial Group set a $16.00 target price on L Brands and gave the stock a “sell” rating in a report on Thursday, August 22nd. Loop Capital decreased their target price on L Brands from $20.00 to $15.00 and set a “sell” rating on the stock in a report on Thursday, August 22nd. UBS Group decreased their target price on L Brands from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, DA Davidson set a $20.00 target price on L Brands and gave the stock a “hold” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and an average price target of $26.43.
Hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. lifted its position in shares of L Brands by 236.8% during the 1st quarter. Marshall Wace North America L.P. now owns 133,024 shares of the specialty retailer’s stock worth $3,669,000 after buying an additional 93,522 shares during the last quarter. Davy Asset Management Ltd acquired a new position in L Brands in the 2nd quarter worth about $1,973,000. Advisory Services Network LLC increased its holdings in L Brands by 155.6% in the 2nd quarter. Advisory Services Network LLC now owns 11,403 shares of the specialty retailer’s stock worth $298,000 after purchasing an additional 6,942 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in L Brands by 20.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,211 shares of the specialty retailer’s stock worth $1,023,000 after purchasing an additional 6,783 shares in the last quarter. Finally, Close Asset Management Ltd increased its holdings in L Brands by 7.0% in the 2nd quarter. Close Asset Management Ltd now owns 14,967 shares of the specialty retailer’s stock worth $391,000 after purchasing an additional 975 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.
Shares of LB stock traded down $0.05 during trading on Tuesday, reaching $18.96. 275,301 shares of the company’s stock were exchanged, compared to its average volume of 7,553,367. The stock has a market capitalization of $5.28 billion, a PE ratio of 6.70, a PEG ratio of 0.67 and a beta of 0.76. L Brands has a twelve month low of $15.82 and a twelve month high of $38.00. The firm’s fifty day moving average price is $20.67 and its 200-day moving average price is $24.26.
The firm also recently disclosed 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 dividend yield of 6.33%. 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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