L Brands’ (LB) “Hold” Rating Reaffirmed at Royal Bank Of Canada
L Brands, Inc. (NYSE:LB)‘s stock had its “hold” rating reissued by equities research analysts at Royal Bank Of Canada in a report issued on Monday. They presently have a $55.00 price target on the specialty retailer’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 24.27% from the company’s previous close.
Several other equities research analysts also recently issued reports on LB. Oppenheimer Holdings, Inc. set a $62.00 price target on L Brands and gave the stock a “buy” rating in a report on Saturday, April 8th. BMO Capital Markets set a $52.00 price target on L Brands and gave the stock a “hold” rating in a report on Thursday, July 6th. Instinet restated a “neutral” rating and issued a $48.00 price target (down from $49.00) on shares of L Brands in a report on Sunday, July 9th. Wolfe Research lowered their price target on L Brands from $52.00 to $48.00 and set a “peer perform” rating for the company in a report on Friday, July 7th. Finally, Jefferies Group LLC set a $32.00 price target on L Brands and gave the stock a “sell” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average target price of $56.53.
L Brands (NYSE:LB) traded down 1.51% during trading on Monday, hitting $44.26. The stock had a trading volume of 1,950,469 shares. The company’s 50-day moving average is $49.88 and its 200 day moving average is $52.18. The firm has a market cap of $12.70 billion, a PE ratio of 11.66 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 results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities analysts expect that L Brands will post $3.23 EPS for the current fiscal year.
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In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares in the company, valued at approximately $3,698,163.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 16.45% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of LB. Skylands Capital LLC raised its position in shares of L Brands by 51.4% in the first quarter. Skylands Capital LLC now owns 96,825 shares of the specialty retailer’s stock valued at $4,560,000 after buying an additional 32,875 shares during the last quarter. BKD Wealth Advisors LLC raised its position in shares of L Brands by 15.0% in the first quarter. BKD Wealth Advisors LLC now owns 11,516 shares of the specialty retailer’s stock valued at $542,000 after buying an additional 1,498 shares during the last quarter. Prospera Financial Services Inc raised 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 during the last quarter. Stokes & Hubbell Capital Management LLC acquired a new position in shares of L Brands during the first quarter valued at about $2,617,000. Finally, Verde Servicos Internacionais S.A. acquired a new position in shares of L Brands during the first quarter valued at about $569,000. Institutional investors own 75.43% of the company’s stock.
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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