Royal Bank Of Canada Reaffirms Hold Rating for L Brands, Inc. (LB)
L Brands, Inc. (NYSE:LB)‘s stock had its “hold” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. They currently have a $55.00 price objective on the specialty retailer’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 6.67% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. Buckingham Research reiterated a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Jefferies Group LLC restated a “sell” rating and set a $35.00 price objective on shares of L Brands in a research report on Thursday, April 6th. Pacific Crest lowered L Brands to a “sell” rating in a research report on Tuesday, April 4th. Zacks Investment Research lowered L Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, March 14th. Finally, Cowen and Company restated a “buy” rating and set a $56.00 price objective on shares of L Brands in a research report on Thursday, April 6th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $58.05.
L Brands (LB) traded up 0.58% during trading on Monday, reaching $51.86. The company had a trading volume of 2,152,196 shares. The stock has a 50 day moving average price of $51.25 and a 200 day moving average price of $56.07. L Brands has a 12 month low of $43.04 and a 12 month high of $79.67. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 13.66 and a beta of 0.62.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company posted $0.59 EPS. L Brands’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities research analysts predict that L Brands will post $3.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date was Wednesday, May 31st. L Brands’s payout ratio is 63.16%.
In related news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.45% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP acquired a new position in shares of L Brands during the first quarter valued at approximately $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of L Brands during the first quarter valued at approximately $142,000. IFP Advisors Inc increased its position in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 529 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 868 shares in the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in shares of L Brands during the fourth quarter valued at approximately $201,000. 77.25% 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, 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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