Wall Street brokerages expect L Brands Inc (NYSE:LB) to report $0.34 earnings per share for the current quarter, Zacks reports. Nine analysts have made estimates for L Brands’ earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.27. L Brands posted earnings of $0.48 per share in the same quarter last year, which suggests a negative year over year growth rate of 29.2%. The business is scheduled to issue its next earnings results on Wednesday, August 15th.
On average, analysts expect that L Brands will report full year earnings of $2.83 per share for the current year, with EPS estimates ranging from $2.42 to $3.25. For the next financial year, analysts forecast that the business will post earnings of $2.95 per share, with EPS estimates ranging from $2.06 to $3.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow L Brands.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. L Brands had a negative return on equity of 93.09% and a net margin of 7.30%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share.
Several brokerages have issued reports on LB. Nomura raised their price objective on L Brands from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, June 7th. Barclays reiterated a “hold” rating and set a $34.00 target price on shares of L Brands in a research note on Monday, May 28th. Deutsche Bank decreased their target price on shares of L Brands from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, May 24th. B. Riley decreased their target price on shares of L Brands from $58.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, May 25th. Finally, Morgan Stanley increased their target price on shares of L Brands from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 25th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. L Brands has a consensus rating of “Hold” and an average target price of $43.88.
In other news, Director Donna James sold 1,000 shares of L Brands stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $35.29, for a total transaction of $35,290.00. Following the completion of the sale, the director now directly owns 19,738 shares in the company, valued at approximately $696,554.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total transaction of $672,520.00. Following the sale, the chief financial officer now owns 52,640 shares of the company’s stock, valued at $2,082,438.40. The disclosure for this sale can be found here. 17.32% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of LB. Schwab Charles Investment Management Inc. lifted its position in shares of L Brands by 5.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 953,657 shares of the specialty retailer’s stock valued at $57,430,000 after acquiring an additional 46,142 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of L Brands during the 4th quarter valued at approximately $355,000. Engineers Gate Manager LP acquired a new stake in shares of L Brands during the 4th quarter valued at approximately $2,453,000. CIBC World Markets Inc. acquired a new stake in shares of L Brands during the 4th quarter valued at approximately $457,000. Finally, Victory Capital Management Inc. lifted its position in shares of L Brands by 1,045.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock valued at $65,745,000 after acquiring an additional 996,468 shares during the period. Institutional investors own 75.10% of the company’s stock.
Shares of L Brands traded down $0.42, hitting $36.52, during mid-day trading on Tuesday, Marketbeat Ratings reports. 4,491,509 shares of the stock were exchanged, compared to its average volume of 4,902,562. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.15 and a beta of 0.77. L Brands has a 12-month low of $30.70 and a 12-month high of $63.10. The company has a debt-to-equity ratio of -5.90, a quick ratio of 0.83 and a current ratio of 1.56.
L Brands announced that its board has initiated a share buyback plan on Thursday, March 8th that authorizes the company to buyback $226.90 million in shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $2.40 dividend on an annualized basis and a yield of 6.57%. L Brands’s payout ratio is currently 75.00%.
L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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