Jefferies Group Weighs in on L Brands, Inc.’s Q3 2018 Earnings (LB)
L Brands, Inc. (NYSE:LB) – Analysts at Jefferies Group cut their Q3 2018 EPS estimates for L Brands in a note issued to investors on Thursday. Jefferies Group analyst R. Konik now anticipates that the specialty retailer will earn $0.25 per share for the quarter, down from their prior estimate of $0.30. Jefferies Group currently has a “Sell” rating and a $32.00 target price on the stock. Jefferies Group also issued estimates for L Brands’ FY2019 earnings at $2.10 EPS.
A number of other equities research analysts have also recently weighed in on the stock. Buckingham Research reiterated a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. FBR & Co reiterated an “outperform” rating and set a $60.00 price target on shares of L Brands in a research report on Thursday, July 27th. Credit Suisse Group set a $47.00 price objective on shares of L Brands and gave the company a “hold” rating in a report on Wednesday, July 19th. Deutsche Bank AG dropped their price objective on shares of L Brands from $62.00 to $61.00 and set a “buy” rating for the company in a report on Friday, May 5th. Finally, Vetr upgraded shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.89 price objective for the company in a report on Monday, June 5th. Five 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 presently has a consensus rating of “Hold” and an average target price of $52.26.
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Shares of L Brands (NYSE LB) traded down 3.30% during trading on Friday, reaching $36.31. 2,187,703 shares of the company’s stock were exchanged. The stock has a market cap of $10.35 billion, a P/E ratio of 10.66 and a beta of 0.62. L Brands has a 12-month low of $35.00 and a 12-month high of $79.67. The company has a 50 day moving average of $44.94 and a 200 day moving average of $50.03. L Brands also was the target of some unusual options trading activity on Wednesday. Investors acquired 18,485 call options on the company. This represents an increase of 663% compared to the average daily volume of 2,424 call options.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.04%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS.
A number of institutional investors have recently made changes to their positions in LB. First Personal Financial Services increased its position in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares during the last quarter. FNY Partners Fund LP purchased a new position in shares of L Brands during the first quarter worth approximately $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of L Brands during the first quarter worth 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 worth $148,000 after buying an additional 529 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its position in L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the period. Institutional investors own 75.20% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a yield of 6.39%. L Brands’s payout ratio is currently 70.38%.
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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