L Brands, Inc. (LB) Expected to Announce Earnings of $0.45 Per Share
Brokerages expect that L Brands, Inc. (NYSE:LB) will post earnings per share (EPS) of $0.45 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for L Brands’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.45. L Brands reported earnings per share of $0.70 in the same quarter last year, which indicates a negative year-over-year growth rate of 35.7%. The company is expected to issue its next earnings report after the market closes on Wednesday, August 16th.
On average, analysts expect that L Brands will report full-year earnings of $3.25 per share for the current fiscal year, with EPS estimates ranging from $3.06 to $3.37. For the next fiscal year, analysts forecast that the firm will report earnings of $3.33 per share, with EPS estimates ranging from $2.15 to $3.65. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover L Brands.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm earned $0.59 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year.
Several research firms have weighed in on LB. Cowen and Company restated a “buy” rating and set a $56.00 target price on shares of L Brands in a report on Tuesday, July 4th. FBR & Co set a $60.00 target price on L Brands and gave the company a “buy” rating in a report on Tuesday, July 4th. Jefferies Group LLC set a $35.00 target price on L Brands and gave the company a “sell” rating in a report on Tuesday, July 4th. Vetr lowered L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 target price on the stock. in a report on Monday, June 12th. Finally, ValuEngine lowered L Brands from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.05.
Shares of L Brands (NYSE:LB) opened at 43.37 on Tuesday. The stock has a 50 day moving average price of $48.88 and a 200-day moving average price of $51.51. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 11.42 and a beta of 0.62. L Brands has a 1-year low of $42.78 and a 1-year high of $79.67.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.53%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) is presently 63.16%.
In related news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction that occurred on 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 completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.45% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. 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 valued at $894,945,000 after buying an additional 18,521,518 shares during the period. 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 valued at $683,636,000 after buying an additional 6,745,624 shares during 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 valued at $885,383,000 after buying an additional 2,600,605 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of L Brands during the first quarter valued at approximately $101,243,000. Finally, American Century Companies Inc. boosted its stake in shares of L Brands by 4,831.7% in the first quarter. American Century Companies Inc. now owns 1,536,226 shares of the specialty retailer’s stock valued at $72,356,000 after buying an additional 1,505,076 shares during the last quarter. Hedge funds and other institutional investors own 75.43% 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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