L Brands Inc (NYSE:LB) shares fell 5.7% during mid-day trading on Thursday . The company traded as low as $20.59 and last traded at $19.66, 305,721 shares changed hands during trading. A decline of 92% from the average session volume of 3,799,823 shares. The stock had previously closed at $20.85.
A number of research firms recently issued reports on LB. Bank of America set a $30.00 price objective on L Brands and gave the company a “hold” rating in a research report on Thursday, May 23rd. Citigroup cut L Brands from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $26.50 to $27.00 in a research report on Monday, July 15th. Odeon Capital Group began coverage on L Brands in a research report on Friday, April 26th. They set a “buy” rating for the company. Loop Capital reduced their price objective on L Brands to $20.00 and set a “sell” rating for the company in a research report on Wednesday, May 15th. Finally, Royal Bank of Canada set a $35.00 price objective on L Brands and gave the company a “buy” rating in a research report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.17.
The business has a 50-day simple moving average of $25.35 and a two-hundred day simple moving average of $25.49. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.83 and a beta of 0.69.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share for the quarter. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that L Brands Inc will post 2.4 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.09%. L Brands’s dividend payout ratio is currently 42.55%.
Large investors have recently made changes to their positions in the business. First Mercantile Trust Co. acquired a new stake in shares of L Brands in the second quarter worth about $32,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of L Brands by 1,594.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 2,823 shares during the period. Investors Research Corp bought a new position in shares of L Brands in the first quarter worth about $127,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of L Brands by 65.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock worth $130,000 after purchasing an additional 1,857 shares during the period. Finally, Trustcore Financial Services LLC bought a new position in shares of L Brands in the second quarter worth about $130,000. 68.41% of the stock is owned by institutional investors.
About L Brands (NYSE:LB)
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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