L Brands Inc Declares Quarterly Dividend of $0.34 (LB)
L Brands (NYSE:LB) announced a quarterly dividend on Friday, May 23rd, AmericanBankingNews.com reports. Shareholders of record on Friday, June 6th will be paid a dividend of 0.34 per share on Friday, June 20th. This represents a $1.36 annualized dividend and a dividend yield of 2.40%.
LB has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus upgraded shares of L Brands from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $68.00 price target on the stock. On a related note, analysts at Mizuho raised their price target on shares of L Brands from $52.00 to $56.00 in a research note on Friday, April 11th. Finally, analysts at Susquehanna raised their price target on shares of L Brands from $66.00 to $69.00 in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. L Brands has an average rating of “Buy” and an average price target of $63.50.
Shares of L Brands (NYSE:LB) opened at 56.96 on Friday. L Brands has a 52 week low of $48.76 and a 52 week high of $67.12. The stock has a 50-day moving average of $55.71 and a 200-day moving average of $57.88. The company has a market cap of $16.575 billion and a P/E ratio of 18.59.
L Brands (NYSE:LB) last released its earnings data on Wednesday, May 21st. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.01. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $0.48 earnings per share. L Brands’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that L Brands will post $3.28 EPS for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.