L Brands Inc. Same-Store Sales Grow 2% in September, Stock Falls by 1.5% (NYSE:LB)
L Brands’ (NYSE:LB) same-store sales increased by 2% during the month of September. The company beat analysts’ expectations of a 1.9% year-over-year increase in sales. L Brands’ stock fell by 1.5% in the first full-day of trading following the news.
Several equities research analysts recently issued reports on LB shares. Argus restated a “hold” rating on shares of L Brands in a research report on Friday, August 26th. Mizuho restated a “buy” rating and set a $85.00 price objective on shares of L Brands in a research report on Monday, September 26th. Telsey Advisory Group raised their price objective on shares of L Brands from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Vetr upgraded shares of L Brands from a “sell” rating to a “hold” rating and set a $79.12 price objective for the company in a research report on Monday, August 22nd. Finally, Jefferies Group restated a “hold” rating on shares of L Brands in a research report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $77.95.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the sale, the insider now directly owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. Company insiders own 16.45% of the company’s stock.
Shares of L Brands (NYSE:LB) opened at 71.76 on Tuesday. The firm’s 50-day moving average is $73.34 and its 200-day moving average is $73.02. L Brands has a 12-month low of $60.00 and a 12-month high of $101.11. The firm has a market cap of $20.52 billion, a PE ratio of 17.49 and a beta of 0.91.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The company earned $2.89 billion during the quarter. During the same period in the prior year, the company earned $0.68 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities analysts expect that L Brands will post $3.83 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its stake in L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock worth $151,000 after buying an additional 741 shares during the period. Financial Architects Inc increased its stake in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares during the period. Tower Research Capital LLC TRC acquired a new stake in L Brands during the second quarter worth about $123,000. Whittier Trust Co. of Nevada Inc. increased its stake in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares during the period. Finally, Global X Management Co. LLC increased its stake in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares during the period. 75.60% of the stock is owned by hedge funds and other institutional investors.
L Brands Company Profile
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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