UBS Group initiated coverage on shares of L Brands (NYSE:LB) in a research note issued to investors on Thursday, June 21st, www.benzinga.com reports. The firm issued a neutral rating and a $37.00 price target on the specialty retailer’s stock.
Other research analysts also recently issued reports about the stock. Telsey Advisory Group reduced their price objective on shares of L Brands from $52.00 to $41.00 and set a market perform rating on the stock in a research note on Friday, April 13th. Piper Jaffray Companies restated a neutral rating and issued a $30.00 price target on shares of L Brands in a research report on Thursday, May 24th. Credit Suisse Group initiated coverage on shares of L Brands in a research report on Monday, March 12th. They issued a neutral rating and a $45.00 price objective on the stock. Loop Capital initiated coverage on shares of L Brands in a research note on Thursday, March 8th. They set a hold rating and a $45.00 target price on the stock. Finally, ValuEngine cut shares of L Brands from a hold rating to a sell rating in a research note on Saturday, April 7th. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $43.47.
Shares of L Brands opened at $36.88 on Thursday, according to MarketBeat.com. The company has a current ratio of 1.56, a quick ratio of 0.83 and a debt-to-equity ratio of -5.90. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.16 and a beta of 0.77. L Brands has a 12-month low of $30.70 and a 12-month high of $63.10.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. L Brands had a net margin of 7.30% and a negative return on equity of 93.09%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter last year, the firm posted $0.33 earnings per share. L Brands’s revenue was up 7.8% on a year-over-year basis. equities analysts predict that L Brands will post 2.79 EPS for the current fiscal year.
L Brands announced that its board has initiated a share repurchase program on Thursday, March 8th that allows the company to buyback $226.90 million in shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, May 31st. This represents a $2.40 dividend on an annualized basis and a yield of 6.51%. L Brands’s payout ratio is 75.00%.
In related news, Director Donna James sold 1,000 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $35.29, for a total transaction of $35,290.00. Following the completion of the sale, the director now directly owns 19,738 shares of the company’s stock, valued at approximately $696,554.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.32% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of L Brands in the 1st quarter valued at approximately $1,320,000. Nicola Wealth Management LTD. acquired a new stake in L Brands during the 1st quarter valued at $4,776,000. Suntrust Banks Inc. lifted its holdings in L Brands by 78.5% during the 1st quarter. Suntrust Banks Inc. now owns 7,483 shares of the specialty retailer’s stock valued at $285,000 after purchasing an additional 3,292 shares during the last quarter. BKD Wealth Advisors LLC increased its position in L Brands by 31.5% during the 1st quarter. BKD Wealth Advisors LLC now owns 25,791 shares of the specialty retailer’s stock worth $985,000 after buying an additional 6,172 shares during the period. Finally, Allianz Asset Management GmbH increased its position in L Brands by 205.4% during the 1st quarter. Allianz Asset Management GmbH now owns 43,626 shares of the specialty retailer’s stock worth $1,668,000 after buying an additional 29,343 shares during the period. 76.58% of the stock is owned by hedge funds and other institutional investors.
L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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