L Brands (NYSE:LB) Upgraded by Credit Suisse Group to “Neutral”

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Credit Suisse Group upgraded shares of L Brands (NYSE:LB) from an underperform rating to a neutral rating in a report released on Tuesday morning, Benzinga reports. Credit Suisse Group currently has $24.00 target price on the specialty retailer’s stock.

Several other research firms have also recently weighed in on LB. Bank of America upgraded shares of L Brands from a neutral rating to a buy rating and raised their price objective for the company from $21.00 to $25.00 in a research report on Friday, January 3rd. ValuEngine upgraded shares of L Brands from a sell rating to a hold rating in a research report on Friday, January 3rd. MKM Partners lowered their price objective on shares of L Brands to $17.00 and set a neutral rating on the stock in a research report on Thursday, November 21st. Deutsche Bank upgraded shares of L Brands from a hold rating to a buy rating and raised their price objective for the company from $22.00 to $24.00 in a research report on Friday, January 10th. Finally, Wedbush raised their price objective on shares of L Brands from $16.00 to $20.00 and gave the company a neutral rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $21.67.

L Brands stock opened at $24.34 on Tuesday. The firm’s fifty day moving average price is $20.86 and its 200-day moving average price is $19.25. The stock has a market cap of $6.67 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76. L Brands has a fifty-two week low of $15.80 and a fifty-two week high of $29.02.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.69 billion. L Brands had a net margin of 2.80% and a negative return on equity of 72.15%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. On average, equities research analysts forecast that L Brands will post 2.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 21st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Thursday, February 20th. L Brands’s payout ratio is presently 42.55%.

A number of large investors have recently modified their holdings of LB. Comerica Bank grew its holdings in L Brands by 1.0% in the 4th quarter. Comerica Bank now owns 48,088 shares of the specialty retailer’s stock worth $1,126,000 after acquiring an additional 483 shares during the last quarter. Dupont Capital Management Corp grew its holdings in L Brands by 8.8% in the 4th quarter. Dupont Capital Management Corp now owns 7,800 shares of the specialty retailer’s stock worth $141,000 after acquiring an additional 632 shares during the last quarter. Kwmg LLC grew its holdings in L Brands by 0.8% in the 4th quarter. Kwmg LLC now owns 89,864 shares of the specialty retailer’s stock worth $1,628,000 after acquiring an additional 727 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in L Brands by 127.1% in the 4th quarter. Coastal Investment Advisors Inc. now owns 1,374 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 769 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in L Brands by 1.6% in the 3rd quarter. State of Michigan Retirement System now owns 55,844 shares of the specialty retailer’s stock worth $1,094,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 71.42% of the company’s stock.

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.

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Analyst Recommendations for L Brands (NYSE:LB)

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