Brokers Set Expectations for L Brands Inc’s Q2 2018 Earnings (LB)
L Brands Inc (NYSE:LB) – Equities research analysts at Northcoast Research increased their Q2 2018 earnings estimates for L Brands in a note issued to investors on Monday. Northcoast Research analyst K. Szafraniec now anticipates that the specialty retailer will post earnings per share of $0.42 for the quarter, up from their previous forecast of $0.41. Northcoast Research also issued estimates for L Brands’ Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $2.07 EPS, FY2018 earnings at $3.20 EPS and FY2019 earnings at $3.42 EPS.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. L Brands’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS.
A number of other brokerages have also recently commented on LB. Vetr cut shares of L Brands from a “strong-buy” rating to a “buy” rating and set a $68.74 target price for the company. in a report on Tuesday, January 24th. FBR & Co set a $60.00 target price on shares of L Brands and gave the company a “hold” rating in a report on Saturday, February 4th. Mizuho reduced their target price on shares of L Brands from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, February 3rd. Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a report on Thursday, February 2nd. Finally, Oppenheimer Holdings Inc. set a $75.00 target price on shares of L Brands and gave the company a “buy” rating in a report on Wednesday, February 8th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. L Brands currently has an average rating of “Hold” and an average target price of $58.82.
L Brands (NYSE:LB) traded down 0.20% on Tuesday, reaching $50.25. 326,484 shares of the company traded hands. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 13.24 and a beta of 0.82. The stock’s 50-day moving average is $49.50 and its 200-day moving average is $58.17. L Brands has a 1-year low of $43.04 and a 1-year high of $79.67.
A number of institutional investors have recently added to or reduced their stakes in LB. Virtus Investment Advisers Inc. acquired a new position in L Brands during the third quarter valued at approximately $3,148,000. OMERS ADMINISTRATION Corp raised its position in L Brands by 14.7% in the third quarter. OMERS ADMINISTRATION Corp now owns 7,800 shares of the specialty retailer’s stock valued at $552,000 after buying an additional 1,000 shares during the period. SECOR Capital Advisors LP acquired a new position in L Brands during the third quarter valued at approximately $4,532,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in L Brands by 28.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 350,310 shares of the specialty retailer’s stock valued at $24,791,000 after buying an additional 78,255 shares during the period. Finally, Jabre Capital Partners S.A. acquired a new position in L Brands during the third quarter valued at approximately $708,000. Institutional investors and hedge funds own 74.20% of the company’s stock.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the transaction, the chief executive officer now owns 75,658 shares in the company, valued at $3,698,163.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.45% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $2.40 annualized dividend and a yield of 4.77%. L Brands’s dividend payout ratio (DPR) is currently 60.61%.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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