L Brands Inc (NYSE:LB) – Stock analysts at KeyCorp increased their FY2018 earnings per share estimates for L Brands in a research note issued to investors on Thursday. KeyCorp analyst E. Yruma now expects that the specialty retailer will post earnings per share of $3.15 for the year, up from their previous forecast of $3.12. KeyCorp also issued estimates for L Brands’ Q4 2018 earnings at $2.05 EPS, Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $2.24 EPS and FY2019 earnings at $3.45 EPS.
A number of other brokerages have also commented on LB. Nomura upped their price objective on shares of L Brands from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $60.00 price objective on shares of L Brands in a research report on Friday, December 22nd. Piper Jaffray Companies set a $47.00 price objective on shares of L Brands and gave the company a “hold” rating in a research report on Thursday, November 16th. Buckingham Research upped their price objective on shares of L Brands from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, November 17th. Finally, B. Riley reaffirmed a “buy” rating and set a $58.00 price objective on shares of L Brands in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.16.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.30. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share.
A number of institutional investors have recently modified their holdings of the business. Thrivent Financial For Lutherans grew its stake in L Brands by 3.5% during the second quarter. Thrivent Financial For Lutherans now owns 9,154 shares of the specialty retailer’s stock worth $493,000 after buying an additional 310 shares during the last quarter. Rikoon Group LLC grew its stake in L Brands by 5.3% during the second quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock worth $1,330,000 after buying an additional 1,250 shares during the last quarter. Hartford Investment Management Co. grew its stake in L Brands by 1.5% during the third quarter. Hartford Investment Management Co. now owns 84,019 shares of the specialty retailer’s stock worth $3,496,000 after buying an additional 1,271 shares during the last quarter. Hennessy Advisors Inc. grew its stake in L Brands by 3.9% during the third quarter. Hennessy Advisors Inc. now owns 34,500 shares of the specialty retailer’s stock worth $1,436,000 after buying an additional 1,300 shares during the last quarter. Finally, JNBA Financial Advisors grew its stake in L Brands by 25.7% during the third quarter. JNBA Financial Advisors now owns 6,350 shares of the specialty retailer’s stock worth $264,000 after buying an additional 1,300 shares during the last quarter. 78.48% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director David T. Kollat acquired 9,910 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were purchased at an average cost of $50.34 per share, with a total value of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.68% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.40 annualized dividend and a yield of 4.93%. L Brands’s dividend payout ratio is 72.95%.
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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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