FBR & Co upgraded shares of L Brands Inc (NYSE:LB) from a market perform rating to an outperform rating in a research note issued to investors on Friday. The firm currently has $60.00 price target on the stock.
A number of other research firms have also weighed in on LB. Wolfe Research cut their price objective on shares of L Brands from $67.00 to $62.00 and set a peer perform rating for the company in a research report on Friday, January 6th. Zacks Investment Research lowered shares of L Brands from a hold rating to a sell rating in a research report on Tuesday, March 14th. Wedbush set a $47.00 price objective on shares of L Brands and gave the company a hold rating in a research report on Sunday, February 26th. Jefferies Group LLC set a $48.00 price objective on shares of L Brands and gave the company a sell rating in a research report on Thursday, January 5th. Finally, Wells Fargo & Co reissued a hold rating on shares of L Brands in a research report on Thursday, February 23rd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $67.34.
L Brands (NYSE:LB) traded down 1.82% during midday trading on Friday, reaching $50.25. 2,095,098 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $54.94 and its 200 day moving average is $65.84. L Brands has a 52 week low of $47.93 and a 52 week high of $88.77. The firm has a market capitalization of $14.37 billion, a P/E ratio of 12.63 and a beta of 0.82.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.13. The business earned $4.49 billion during the quarter, compared to analyst estimates of $4.51 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.15 earnings per share. On average, analysts expect that L Brands will post $3.20 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Stockholders of record on Friday, February 17th were paid a $0.60 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.69%. L Brands’s dividend payout ratio (DPR) is presently 60.61%.
Several hedge funds and other institutional investors have recently made changes to their positions in LB. Norges Bank purchased a new position in shares of L Brands during the fourth quarter valued at $119,358,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of L Brands during the fourth quarter valued at $115,157,000. NN Investment Partners Holdings N.V. increased its position in shares of L Brands by 55,454.3% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 823,870 shares of the company’s stock valued at $54,244,000 after buying an additional 822,387 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of L Brands during the fourth quarter valued at $50,555,000. Finally, SG Americas Securities LLC increased its position in shares of L Brands by 1,418.7% in the third quarter. SG Americas Securities LLC now owns 546,870 shares of the company’s stock valued at $38,702,000 after buying an additional 510,861 shares during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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