Piper Jaffray Companies Reiterates $47.00 Price Target for L Brands, Inc. (LB)
Several other brokerages also recently issued reports on LB. Jefferies Group LLC set a $32.00 price objective on L Brands and gave the company a sell rating in a research report on Wednesday, July 19th. Nomura boosted their target price on L Brands from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. BidaskClub downgraded L Brands from a hold rating to a sell rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $55.00 target price on L Brands and gave the stock a buy rating in a research report on Thursday, August 17th. Finally, Cowen and Company set a $40.00 target price on L Brands and gave the stock a buy rating in a research report on Friday, August 18th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $48.11.
Shares of L Brands (NYSE LB) traded up $1.36 on Thursday, reaching $50.48. The company’s stock had a trading volume of 4,705,718 shares, compared to its average volume of 4,540,185. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of -6.25. L Brands has a 52-week low of $35.00 and a 52-week high of $75.50. The company has a market cap of $14,328.55, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. sell-side analysts forecast that L Brands will post 3.13 EPS for the current fiscal year.
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L Brands announced that its board has initiated a stock repurchase 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 buy up to 2.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 4.75%. L Brands’s payout ratio is presently 72.95%.
In related news, Director Allan R. Tessler bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the acquisition, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.68% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LB. Janus Henderson Group PLC raised its holdings in L Brands by 4,925.7% during the second quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock worth $91,776,000 after acquiring an additional 1,669,128 shares in the last quarter. American Century Companies Inc. raised its holdings in L Brands by 328.4% during the third quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock worth $51,615,000 after acquiring an additional 950,859 shares in the last quarter. Flossbach Von Storch AG raised its holdings in L Brands by 81.2% during the third quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock worth $85,468,000 after acquiring an additional 920,710 shares in the last quarter. William Blair Investment Management LLC bought a new stake in L Brands during the second quarter worth about $46,840,000. Finally, Scharf Investments LLC raised its holdings in L Brands by 24.9% during the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock worth $161,248,000 after acquiring an additional 772,740 shares in the last quarter. Institutional investors and hedge funds own 80.71% 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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