L Brands Receives Neutral Rating from Nomura (LB)
L Brands (NYSE:LB)‘s stock had its “neutral” rating reaffirmed by investment analysts at Nomura in a note issued to investors on Friday. They currently have a $59.00 price objective on the stock, up from their previous price objective of $55.00. Nomura’s price objective would suggest a potential downside of 6.65% from the stock’s previous close.
Shares of L Brands (NYSE:LB) opened at 63.20 on Friday. L Brands has a 52 week low of $50.78 and a 52 week high of $67.12. The stock has a 50-day moving average of $58.83 and a 200-day moving average of $56.64. The company has a market cap of $18.451 billion and a P/E ratio of 19.57.
L Brands (NYSE:LB) last released its earnings data on Wednesday, May 21st. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that L Brands will post $3.19 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of L Brands from $62.00 to $64.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of L Brands in a research note on Tuesday, July 22nd. They now have a $60.00 price target on the stock. Finally, analysts at Oppenheimer upgraded shares of L Brands from an “underperform” rating to a “market perform” rating in a research note on Monday, June 9th. They now have a $56.00 price target on the stock, up previously from $46.00. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $60.56.
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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