L Brands Receives Hold Rating from Canaccord Genuity (LTD)
L Brands (NYSE:LTD)‘s stock had its “hold” rating restated by equities research analysts at Canaccord Genuity in a research note issued to investors on Tuesday, AnalystRatingsNetwork reports. They currently have a $50.00 price objective on the stock, up from their previous price objective of $48.00. Canaccord Genuity’s target price suggests a potential downside of 14.68% from the company’s current price.
A number of other analysts have also recently weighed in on LTD. Analysts at Cowen and Company raised their price target on shares of L Brands from $60.00 to $66.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group reiterated an “underperform” rating on shares of L Brands in a research note to investors on Friday, August 9th. They now have a $45.00 price target on the stock, up previously from $40.00. Finally, analysts at FBR Capital Markets initiated coverage on shares of L Brands in a research note to investors on Thursday, August 1st. They set a “market perform” rating on the stock.
Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. L Brands currently has an average rating of “Hold” and a consensus target price of $53.11.
Shares of L Brands (NYSE:LTD) traded down 2.09% on Tuesday, hitting $58.60. 3,643,027 shares of the company’s stock traded hands. L Brands has a one year low of $42.49 and a one year high of $61.36. The stock has a 50-day moving average of $55.39 and a 200-day moving average of $49.87. The company has a market cap of $16.958 billion and a P/E ratio of 22.90.
L Brands (NYSE:LTD) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.01. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts expect that L Brands will post $3.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 6th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, August 21st.
L Brands, Inc, formerly Limited Brands, Inc operates in the specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories.
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