Analysts Expect L Brands, Inc. (LB) Will Post Quarterly Sales of $2.56 Billion
Equities analysts predict that L Brands, Inc. (NYSE:LB) will announce sales of $2.56 billion for the current quarter, Zacks reports. Eight analysts have issued estimates for L Brands’ earnings, with estimates ranging from $2.53 billion to $2.59 billion. L Brands reported sales of $2.58 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The company is scheduled to report its next earnings results after the market closes on Wednesday, November 15th.
On average, analysts expect that L Brands will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $12.20 billion to $12.52 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $12.59 billion per share, with estimates ranging from $12.14 billion to $12.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow L Brands.
L Brands (NYSE:LB) last issued its 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 net margin of 8.04% and a negative return on equity of 103.18%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the business posted $0.70 EPS. L Brands’s revenue was down 4.7% on a year-over-year basis.
LB has been the subject of a number of recent analyst reports. Jefferies Group LLC set a $30.00 price objective on shares of L Brands and gave the stock a “sell” rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of L Brands in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a “hold” rating and issued a $44.00 price objective on shares of L Brands in a research report on Friday, September 1st. Buckingham Research reduced 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. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $56.00 price objective on shares of L Brands in a research report on Tuesday, July 4th. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.41.
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Shares of L Brands (LB) opened at 43.75 on Monday. L Brands has a 52 week low of $35.00 and a 52 week high of $75.50. The company has a 50-day moving average of $40.60 and a 200 day moving average of $45.69. The firm has a market capitalization of $12.42 billion, a P/E ratio of 12.84 and a beta of 0.68.
L Brands declared that its Board of Directors has approved a share buyback program on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Allan R. Tessler purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were purchased at an average price of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.68% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of LB. First Personal Financial Services increased its holdings in shares of L Brands by 127.7% in the 2nd 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 bought a new position in shares of L Brands in the 1st quarter worth $129,000. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of L Brands by 11.2% in the 2nd 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 last quarter. Summit Financial Strategies Inc. bought a new position in shares of L Brands in the 2nd quarter worth $214,000. Finally, Advisor Partners LLC bought a new position in shares of L Brands in the 2nd quarter worth $215,000. 79.36% of the stock is currently owned by hedge funds and other institutional investors.
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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