L Brands Inc (NYSE:LB) – Stock analysts at B. Riley lowered their Q2 2020 earnings per share estimates for L Brands in a research note issued to investors on Friday, May 17th. B. Riley analyst S. Anderson now forecasts that the specialty retailer will post earnings of $0.26 per share for the quarter, down from their previous forecast of $0.29. B. Riley currently has a “Buy” rating and a $41.00 price target on the stock. B. Riley also issued estimates for L Brands’ Q3 2020 earnings at $0.11 EPS and FY2021 earnings at $2.79 EPS.
LB has been the subject of a number of other reports. Zacks Investment Research lowered L Brands from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Wells Fargo & Co set a $42.00 price objective on L Brands and gave the company a “buy” rating in a research note on Thursday, February 28th. Loop Capital reduced their price objective on L Brands to $20.00 and set a “sell” rating for the company in a research note on Wednesday, May 15th. Jefferies Financial Group reduced their price objective on L Brands from $21.00 to $16.00 in a research note on Thursday, February 28th. Finally, Barclays upgraded L Brands from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.35.
NYSE LB opened at $22.68 on Monday. The firm has a market capitalization of $6.17 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.87 and a beta of 0.51. L Brands has a 12 month low of $21.70 and a 12 month high of $38.14.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, February 27th. The specialty retailer reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.08. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.90 billion. L Brands had a negative return on equity of 73.73% and a net margin of 4.86%. L Brands’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.11 EPS.
Hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its stake in shares of L Brands by 2,272.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 637,591 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 610,714 shares during the period. FNY Investment Advisers LLC bought a new position in shares of L Brands during the 4th quarter worth $37,000. JNBA Financial Advisors bought a new position in shares of L Brands during the 4th quarter worth $56,000. Synovus Financial Corp grew its stake in shares of L Brands by 167.8% during the 4th quarter. Synovus Financial Corp now owns 2,394 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 1,500 shares during the period. Finally, Kessler Investment Group LLC bought a new position in shares of L Brands during the 1st quarter worth $67,000. Institutional investors own 71.24% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.29%. L Brands’s payout ratio is 42.55%.
About L Brands
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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