An issue of L Brands Inc (NYSE:LB) debt rose 1.3% against its face value during trading on Thursday. The high-yield issue of debt has a 6.75% coupon and will mature on July 1, 2036. The debt is now trading at $93.56 and was trading at $93.13 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Several brokerages recently issued reports on LB. FBR & Co set a $69.00 price target on L Brands and gave the company a “hold” rating in a research report on Sunday, January 8th. Oppenheimer Holdings Inc. set a $62.00 target price on L Brands and gave the stock a “buy” rating in a research report on Saturday, April 8th. Nomura reiterated a “hold” rating and set a $48.00 target price on shares of L Brands in a research report on Tuesday, April 11th. Cowen and Company reiterated a “buy” rating and set a $56.00 target price on shares of L Brands in a research report on Thursday, April 6th. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $35.00 target price on shares of L Brands in a research report on Thursday, April 6th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $62.98.
L Brands Inc (NYSE:LB) traded up 2.39% during midday trading on Thursday, reaching $49.66. The company had a trading volume of 3,361,993 shares. The company’s 50 day moving average is $48.69 and its 200-day moving average is $61.60. The company has a market capitalization of $14.16 billion, a P/E ratio of 12.48 and a beta of 0.82. L Brands Inc has a 52-week low of $43.04 and a 52-week high of $80.20.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, February 22nd. The specialty retailer reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.13. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period in the prior year, the business earned $2.15 earnings per share. L Brands’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that L Brands Inc will post $3.20 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. UMB Bank N A MO raised its position in shares of L Brands by 23.3% in the third quarter. UMB Bank N A MO now owns 6,109 shares of the specialty retailer’s stock worth $433,000 after buying an additional 1,153 shares during the last quarter. Rothschild Asset Management Inc. raised its position in shares of L Brands by 9.8% in the third quarter. Rothschild Asset Management Inc. now owns 6,296 shares of the specialty retailer’s stock worth $446,000 after buying an additional 564 shares during the last quarter. DnB Asset Management AS raised its position in shares of L Brands by 2.5% in the third quarter. DnB Asset Management AS now owns 20,559 shares of the specialty retailer’s stock worth $1,455,000 after buying an additional 500 shares during the last quarter. Douglas Lane & Associates LLC raised its position in shares of L Brands by 25.8% in the third quarter. Douglas Lane & Associates LLC now owns 42,147 shares of the specialty retailer’s stock worth $2,983,000 after buying an additional 8,639 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of L Brands by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 37,637 shares of the specialty retailer’s stock worth $2,664,000 after buying an additional 784 shares during the last quarter. Institutional investors own 74.20% of the company’s stock.
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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