Brokers Set Expectations for L Brands Inc.’s Q3 2018 Earnings (LB)
L Brands Inc. (NYSE:LB) – Equities researchers at FBR & Co lifted their Q3 2018 earnings estimates for L Brands in a note issued to investors on Friday. FBR & Co analyst S. Anderson now anticipates that the brokerage will earn $0.50 per share for the quarter, up from their previous estimate of $0.49. FBR & Co currently has a “Hold” rating and a $75.00 target price on the stock. FBR & Co also issued estimates for L Brands’ FY2018 earnings at $4.01 EPS.
LB has been the subject of several other research reports. Jefferies Group reiterated a “hold” rating on shares of L Brands in a research note on Tuesday, August 23rd. Morgan Stanley restated a “buy” rating and set a $80.00 target price on shares of L Brands in a research note on Tuesday, August 23rd. Vetr downgraded L Brands from a “hold” rating to a “sell” rating and set a $73.68 target price for the company. in a research note on Thursday, August 18th. Citigroup Inc. increased their target price on L Brands from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Finally, Credit Suisse Group AG increased their target price on L Brands from $66.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $77.95.
Shares of L Brands (NYSE:LB) opened at 71.23 on Monday. The company has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91. The stock has a 50 day moving average price of $73.51 and a 200-day moving average price of $73.30. L Brands has a one year low of $60.00 and a one year high of $101.11.
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L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The business earned $2.89 billion during the quarter. During the same quarter last year, the firm posted $0.68 earnings per share. L Brands’s revenue was up 4.5% compared to the same quarter last year.
In related news, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the sale, the insider now owns 13,970 shares of the company’s stock, valued at $1,082,535.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc increased its stake in L Brands by 2.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,428 shares of the company’s stock worth $740,000 after buying an additional 178 shares in the last quarter. Virginia Retirement System bought a new stake in L Brands during the first quarter worth about $351,000. Pacad Investment Ltd. bought a new stake in L Brands during the first quarter worth about $501,000. Prudential Financial Inc. increased its stake in L Brands by 1.1% in the first quarter. Prudential Financial Inc. now owns 315,077 shares of the company’s stock worth $27,667,000 after buying an additional 3,360 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. bought a new stake in L Brands during the first quarter worth about $247,000. 75.60% of the stock is currently owned by institutional investors and hedge funds.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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