L Brands, Inc. Forecasted to Post FY2018 Earnings of $3.24 Per Share (NYSE:LB)
L Brands, Inc. (NYSE:LB) – KeyCorp raised their FY2018 EPS estimates for L Brands in a report issued on Thursday. KeyCorp analyst E. Yruma now expects that the specialty retailer will post earnings per share of $3.24 for the year, up from their prior estimate of $3.20. KeyCorp also issued estimates for L Brands’ Q4 2018 earnings at $2.09 EPS and Q4 2019 earnings at $2.08 EPS.
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 Thomson Reuters’ consensus estimate of $0.29 by $0.04. The company 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 business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share.
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Other analysts have also issued research reports about the stock. Jefferies Group LLC set a $35.00 price objective on shares of L Brands and gave the company a “sell” rating in a research note on Thursday, May 4th. Nomura reiterated a “hold” rating and issued a $48.00 price objective on shares of L Brands in a research note on Tuesday, April 11th. Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 price objective on shares of L Brands in a research note on Monday, July 24th. Vetr lowered shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 price objective for the company. in a research note on Monday, June 12th. Finally, Wolfe Research lowered their price objective on shares of L Brands from $52.00 to $48.00 and set a “peer perform” rating for the company in a research note on Friday, July 7th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.05.
L Brands (NYSE:LB) opened at 43.30 on Monday. L Brands has a 12-month low of $41.92 and a 12-month high of $79.67. The firm has a market cap of $12.42 billion, a PE ratio of 11.40 and a beta of 0.62. The stock has a 50 day moving average of $48.88 and a 200 day moving average of $51.51.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of 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 in the last quarter. Primecap Management Co. CA boosted its stake in shares of 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 in the last quarter. Finally, State Street Corp boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.
In related news, CEO Nicholas Coe sold 39,839 shares of the business’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 directly owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.45% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.54%. L Brands’s dividend payout ratio (DPR) is currently 63.16%.
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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