Wells Fargo & Co upgraded shares of L Brands (NYSE:LB) from a market perform rating to an outperform rating in a research report report published on Monday, Marketbeat Ratings reports. The brokerage currently has $55.00 price target on the specialty retailer’s stock, up from their prior price target of $30.00.
A number of other analysts have also recently weighed in on the stock. MKM Partners increased their target price on shares of L Brands to $34.00 and gave the stock a neutral rating in a report on Friday. ValuEngine raised shares of L Brands from a strong sell rating to a sell rating in a report on Thursday, November 8th. KeyCorp raised shares of L Brands from an underweight rating to a sector weight rating in a report on Thursday, November 8th. Loop Capital set a $24.00 target price on shares of L Brands and gave the stock a sell rating in a report on Thursday, November 8th. Finally, Goldman Sachs Group began coverage on shares of L Brands in a report on Thursday, October 25th. They set a buy rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $38.19.
Shares of NYSE:LB opened at $37.09 on Monday. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.25 and a beta of 0.33. L Brands has a 1-year low of $25.89 and a 1-year high of $63.10.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.92 billion. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. Sell-side analysts anticipate that L Brands will post 2.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.47%. L Brands’s dividend payout ratio (DPR) is presently 75.00%.
A number of institutional investors have recently added to or reduced their stakes in LB. Piedmont Investment Advisors LLC acquired a new position in L Brands during the 2nd quarter valued at about $104,000. Gradient Investments LLC acquired a new position in L Brands during the 2nd quarter valued at about $109,000. Private Capital Group LLC increased its stake in L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 2,982 shares during the period. USAdvisors Wealth Management LLC acquired a new position in L Brands during the 3rd quarter valued at about $208,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in L Brands during the 2nd quarter valued at about $216,000. 73.23% of the stock is currently owned by hedge funds and other institutional investors.
About L Brands
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.
See Also: Earnings Per Share (EPS)
Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.