L Brands’ (LB) “Hold” Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reiterated their hold rating on shares of L Brands, Inc. (NYSE:LB) in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $55.00 price objective on the specialty retailer’s stock.
LB has been the subject of a number of other reports. Guggenheim initiated coverage on L Brands in a research report on Thursday, March 9th. They set a neutral rating for the company. Zacks Investment Research upgraded L Brands from a strong sell rating to a hold rating in a research report on Tuesday, March 7th. FBR & Co reiterated an outperform rating and set a $60.00 target price on shares of L Brands in a research report on Wednesday, May 31st. Stifel Nicolaus reiterated a buy rating and set a $61.00 target price (down from $75.00) on shares of L Brands in a research report on Thursday, February 23rd. Finally, Buckingham Research reiterated a buy rating on shares of L Brands in a research report on Wednesday, April 26th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $58.05.
Shares of L Brands (LB) traded up 0.06% during midday trading on Monday, reaching $51.90. 882,920 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $51.22 and its 200 day moving average price is $55.70. L Brands has a one year low of $43.04 and a one year high of $79.67. The firm has a market capitalization of $14.89 billion, a PE ratio of 13.67 and a beta of 0.62.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, equities research analysts expect that L Brands will post $3.23 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $2.40 annualized dividend and a dividend yield of 4.63%. L Brands’s dividend payout ratio is currently 63.16%.
In other news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.45% of the company’s stock.
Several institutional investors have recently made changes to their positions in LB. FNY Partners Fund LP bought a new position in L Brands during the first quarter valued at about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in L Brands during the first quarter valued at about $142,000. IFP Advisors Inc raised its position in L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 529 shares during the period. Prospera Financial Services Inc raised its position in L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 868 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in L Brands during the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 77.25% 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, 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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