$2.56 Billion in Sales Expected for L Brands, Inc. (LB) This Quarter
Brokerages expect L Brands, Inc. (NYSE:LB) to report $2.56 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for L Brands’ earnings, with estimates ranging from $2.53 billion to $2.59 billion. L Brands posted sales of $2.58 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The business is expected to announce its next earnings results on Wednesday, November 15th.
According to Zacks, analysts expect that L Brands will report full year sales of $2.56 billion for the current fiscal year, with estimates ranging from $12.20 billion to $12.52 billion. For the next year, analysts forecast that the firm will report sales of $12.59 billion per share, with estimates ranging from $12.14 billion to $12.89 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for L Brands.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. L Brands’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS.
A number of analysts have commented on LB shares. Jefferies Group LLC set a $30.00 price objective on shares of L Brands and gave the stock a “sell” rating in a report on Monday, August 28th. FBR & Co reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of L Brands in a research note 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. Sanford C. Bernstein started coverage on shares of L Brands in a report on Tuesday, September 12th. They set an “outperform” rating and a $57.00 price objective for the company. Finally, Robert W. Baird reiterated a “hold” rating and set a $44.00 price objective on shares of L Brands in a report on Friday, September 1st. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. L Brands currently has a consensus rating of “Hold” and an average target price of $46.71.
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In related news, Director Allan R. Tessler bought 20,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were purchased at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.68% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its position in shares of L Brands by 17.7% in the second quarter. Lord Abbett & CO. LLC now owns 400,200 shares of the specialty retailer’s stock valued at $21,567,000 after purchasing an additional 60,056 shares in the last quarter. Rikoon Group LLC raised its stake in shares of L Brands by 5.3% during the 2nd quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock valued at $1,330,000 after purchasing an additional 1,250 shares during the period. Advisory Services Network LLC lifted its holdings in L Brands by 5,618.0% during the 2nd quarter. Advisory Services Network LLC now owns 5,089 shares of the specialty retailer’s stock worth $274,000 after purchasing an additional 5,000 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in L Brands by 182.6% during the 2nd quarter. WINTON GROUP Ltd now owns 59,353 shares of the specialty retailer’s stock worth $3,199,000 after purchasing an additional 38,349 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in L Brands by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,981,735 shares of the specialty retailer’s stock worth $106,796,000 after purchasing an additional 10,240 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.
Shares of L Brands (NYSE LB) opened at 42.72 on Wednesday. The firm has a market cap of $12.13 billion, a P/E ratio of 12.54 and a beta of 0.68. The company has a 50 day moving average price of $38.64 and a 200-day moving average price of $46.20. L Brands has a 52-week low of $35.00 and a 52-week high of $75.50.
L Brands announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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