Q3 2018 Earnings Estimate for L Brands Inc. Issued By KeyCorp (LB)
L Brands Inc. (NYSE:LB) – Investment analysts at KeyCorp decreased their Q3 2018 earnings per share (EPS) estimates for L Brands in a research report issued on Friday. KeyCorp analyst E. Yruma now anticipates that the firm will post earnings per share of $0.45 for the quarter, down from their prior forecast of $0.47. KeyCorp also issued estimates for L Brands’ Q4 2018 earnings at $2.17 EPS.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $2.89 billion for the quarter. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. L Brands’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS.
A number of other equities analysts have also weighed in on LB. Bank of America Corp. lowered shares of L Brands from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $74.00 to $57.00 in a research report on Tuesday, June 28th. Mizuho reiterated a “buy” rating and issued a $85.00 price target on shares of L Brands in a research report on Monday, September 26th. Vetr lowered shares of L Brands from a “strong-buy” rating to a “hold” rating and set a $66.86 target price for the company. in a research report on Tuesday, June 28th. Citigroup Inc. upped their target price on shares of L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Finally, FBR & Co restated a “market perform” rating and set a $75.00 target price on shares of L Brands in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $77.95.
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L Brands (NYSE:LB) opened at 71.23 on Monday. The stock has a market cap of $20.37 billion, a PE ratio of 17.36 and a beta of 0.91. L Brands has a 12 month low of $60.00 and a 12 month high of $101.11. The company has a 50-day moving average of $73.51 and a 200-day moving average of $73.30.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the sale, the insider now directly owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. Insiders own 16.45% of the company’s stock.
A number of large investors have recently made changes to their positions in LB. Loomis Sayles & Co. L P boosted its stake in shares of L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock valued at $151,000 after buying an additional 741 shares during the period. Financial Architects Inc boosted its stake in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of L Brands during the second quarter valued at about $123,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock valued at $125,000 after buying an additional 572 shares during the period. Finally, Global X Management Co. LLC boosted its stake in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares during the period. 75.60% of the stock is currently owned by institutional investors.
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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