Wall Street brokerages forecast that L Brands, Inc. (NYSE:LB) will announce $2.58 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for L Brands’ earnings, with estimates ranging from $2.53 billion to $2.74 billion. L Brands also posted sales of $2.58 billion in the same quarter last year. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 15th.

On average, analysts expect that L Brands will report full year sales of $2.58 billion for the current financial year, with estimates ranging from $12.20 billion to $13.03 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.61 billion per share, with estimates ranging from $12.14 billion to $12.89 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow L Brands.

L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis.

Several equities research analysts have recently issued reports on LB shares. FBR & Co set a $60.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, May 18th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of L Brands in a research report on Tuesday, June 20th. Cowen and Company reissued a “buy” rating and set a $56.00 price objective on shares of L Brands in a research report on Tuesday, July 4th. Deutsche Bank AG reissued a “buy” rating and set a $60.00 price objective on shares of L Brands in a research report on Tuesday, August 1st. Finally, Buckingham Research lowered their price objective on shares of L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.46.

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Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of L Brands by 1.3% in the 2nd quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock valued at $1,037,783,000 after buying an additional 256,464 shares in the last quarter. Primecap Management Co. CA raised its position in shares of L Brands by 16.1% in the 1st 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 in the last quarter. Vanguard Group Inc. raised its position in shares of L Brands by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock valued at $885,716,000 after buying an additional 495,987 shares in the last quarter. Wellington Management Group LLP raised its position in shares of L Brands by 86.8% in the 1st 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 in the last quarter. Finally, FMR LLC raised its position in shares of L Brands by 2.8% in the 2nd quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock valued at $614,558,000 after buying an additional 305,365 shares in the last quarter. Institutional investors own 79.54% of the company’s stock.

L Brands (NYSE:LB) opened at 40.41 on Friday. L Brands has a 52-week low of $35.00 and a 52-week high of $75.94. The firm’s 50-day moving average is $39.67 and its 200 day moving average is $47.26. The stock has a market capitalization of $11.47 billion, a PE ratio of 11.86 and a beta of 0.65.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.94%. The ex-dividend date was Wednesday, August 16th. L Brands’s payout ratio is presently 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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Earnings History and Estimates for L Brands (NYSE:LB)

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