KeyCorp Weighs in on L Brands, Inc.’s FY2018 Earnings (LB)
L Brands, Inc. (NYSE:LB) – KeyCorp increased their FY2018 EPS estimates for shares of L Brands in a note issued to investors on Thursday. KeyCorp analyst E. Yruma now expects that the specialty retailer will earn $3.24 per share for the year, up from their prior estimate of $3.20. KeyCorp also issued estimates for L Brands’ Q4 2018 earnings at $2.09 EPS and Q4 2019 earnings at $2.08 EPS.
Several other analysts also recently commented on the stock. Buckingham Research reissued a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Jefferies Group LLC set a $35.00 price objective on shares of L Brands and gave the company a “sell” rating in a research report on Tuesday, July 4th. Deutsche Bank AG cut their price objective on shares of L Brands from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, May 5th. Vetr raised shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.89 price objective on the stock in a research report on Monday, June 5th. Finally, Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.76.
Shares of L Brands (NYSE LB) traded up 0.457% during mid-day trading on Monday, reaching $42.865. 1,284,767 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $48.04 and a 200 day moving average price of $51.33. L Brands has a 52-week low of $41.28 and a 52-week high of $79.67. The firm has a market cap of $12.30 billion, a P/E ratio of 11.289 and a beta of 0.62.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $0.59 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s payout ratio is 63.16%.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the sale, the chief executive officer now owns 75,658 shares in the company, valued at approximately $3,698,163.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.45% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. First Personal Financial Services boosted its stake in L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,096 shares during the last quarter. FNY Partners Fund LP bought a new stake in L Brands during the first quarter valued at about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in L Brands during the first quarter valued at about $142,000. IFP Advisors Inc boosted its stake 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 last quarter. Finally, Prospera Financial Services Inc boosted its stake 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 last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.
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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