Equities Analysts Set Expectations for L Brands, Inc.’s Q4 2018 Earnings (LB)
L Brands, Inc. (NYSE:LB) – Analysts at Jefferies Group upped their Q4 2018 earnings per share estimates for L Brands in a report released on Wednesday. Jefferies Group analyst R. Konik now expects that the specialty retailer will earn $1.75 per share for the quarter, up from their prior forecast of $1.74. Jefferies Group has a “Sell” rating and a $32.00 price target on the stock.
Several other equities analysts have also recently issued reports on LB. BMO Capital Markets set a $52.00 target price on shares of L Brands and gave the company a “hold” rating in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $62.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Saturday, April 8th. Wolfe Research cut their price target on shares of L Brands from $52.00 to $48.00 and set a “peer perform” rating for the company in a report on Friday, July 7th. Instinet reissued a “neutral” rating and issued a $48.00 price target (down previously from $49.00) on shares of L Brands in a report on Sunday, July 9th. Finally, FBR & Co set a $60.00 price target on shares of L Brands and gave the stock a “buy” rating in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.53.
Shares of L Brands (LB) traded down 0.31% during mid-day trading on Friday, hitting $44.91. 2,079,801 shares of the stock were exchanged. The stock’s 50-day moving average price is $50.34 and its 200-day moving average price is $52.58. The company has a market cap of $12.88 billion, a P/E ratio of 11.83 and a beta of 0.65. L Brands has a 52-week low of $43.04 and a 52-week high of $79.67.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.46 billion. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in L Brands by 3,863.4% in the first quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock worth $894,945,000 after buying an additional 18,521,518 shares during the last quarter. Primecap Management Co. CA boosted its position in L Brands by 16.1% in the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock worth $885,383,000 after buying an additional 2,600,605 shares during the last quarter. Vanguard Group Inc. boosted its position in L Brands by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,939,639 shares of the specialty retailer’s stock worth $750,756,000 after buying an additional 196,711 shares during the last quarter. Wellington Management Group LLP boosted its position in L Brands by 86.8% in the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock worth $683,636,000 after buying an additional 6,745,624 shares during the last quarter. Finally, State Street Corp boosted its position in L Brands by 2.4% in the first quarter. State Street Corp now owns 10,354,575 shares of the specialty retailer’s stock worth $487,693,000 after buying an additional 245,162 shares during the last quarter. 75.54% of the stock is currently owned by institutional investors.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were 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 owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.45% of the company’s stock.
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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