L Brands, Inc. (NYSE:LB)‘s stock had its “buy” rating reiterated by equities research analysts at Oppenheimer Holdings, Inc. in a research note issued on Thursday, October 5th.
Several other research analysts have also recently weighed in on LB. BMO Capital Markets set a $44.00 target price on L Brands and gave the company a “hold” rating in a research note on Tuesday, August 8th. Jefferies Group LLC set a $32.00 price target on L Brands and gave the company a “sell” rating in a research report on Thursday, August 17th. Instinet decreased their price target on L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Nomura set a $38.00 price objective on L Brands and gave the stock a “hold” rating in a research report on Thursday, August 17th. Finally, Buckingham Research set a $43.00 price objective on L Brands and gave the stock a “buy” rating in a research report on Friday, August 18th. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $46.41.
Shares of L Brands (NYSE:LB) opened at 41.51 on Thursday. L Brands has a 12 month low of $35.00 and a 12 month high of $75.50. The stock has a 50 day moving average of $39.87 and a 200-day moving average of $45.85. The firm has a market capitalization of $11.78 billion, a PE ratio of 12.18 and a beta of 0.68.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $0.70 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that L Brands will post $3.13 EPS for the current fiscal year.
L Brands announced that its Board of Directors has initiated a share buyback program on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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In related news, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.68% of the company’s stock.
A number of large investors have recently modified their holdings of LB. BlackRock Inc. boosted its holdings in shares of L Brands by 3,863.4% in the 1st quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock valued at $894,945,000 after purchasing an additional 18,521,518 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of L Brands by 16.1% in the 1st quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock valued at $885,383,000 after purchasing an additional 2,600,605 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of L Brands in the 1st quarter valued at $101,243,000. Janus Henderson Group PLC boosted its holdings in shares of L Brands by 4,925.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock valued at $91,776,000 after purchasing an additional 1,669,128 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of L Brands by 45.6% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,221,251 shares of the specialty retailer’s stock valued at $151,721,000 after purchasing an additional 1,008,270 shares in the last quarter. 79.36% of the stock is currently owned by institutional investors and hedge funds.
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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