L Brands Inc (NYSE:LB) – Equities researchers at Wedbush upped their Q4 2021 earnings estimates for shares of L Brands in a research report issued to clients and investors on Thursday, November 21st. Wedbush analyst J. Redding now forecasts that the specialty retailer will post earnings per share of $2.02 for the quarter, up from their prior forecast of $2.00. Wedbush has a “Neutral” rating and a $20.00 price target on the stock. Wedbush also issued estimates for L Brands’ FY2022 earnings at $2.73 EPS.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $0.16 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year.
Other research analysts also recently issued reports about the company. Goldman Sachs Group set a $26.00 price target on L Brands and gave the company a “buy” rating in a report on Friday, August 23rd. Telsey Advisory Group lowered their price objective on shares of L Brands from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, August 23rd. Loop Capital reissued a “sell” rating and set a $14.00 price objective (down from $15.00) on shares of L Brands in a research note on Thursday. Credit Suisse Group cut shares of L Brands from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $22.00 to $14.00 in a research note on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on shares of L Brands from $34.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.14.
Shares of L Brands stock opened at $17.17 on Friday. L Brands has a 1 year low of $15.80 and a 1 year high of $34.89. The company has a market capitalization of $4.75 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.63 and a beta of 0.77. The business has a 50 day moving average price of $17.59 and a 200 day moving average price of $21.26.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Thursday, November 21st. L Brands’s payout ratio is 42.55%.
Large investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. boosted its holdings in L Brands by 16.7% during the third quarter. ST Germain D J Co. Inc. now owns 294,554 shares of the specialty retailer’s stock worth $5,770,000 after buying an additional 42,080 shares in the last quarter. Davy Asset Management Ltd purchased a new stake in L Brands in the 2nd quarter worth approximately $1,973,000. Kempen Capital Management N.V. lifted its position in L Brands by 20.1% in the 2nd quarter. Kempen Capital Management N.V. now owns 778,452 shares of the specialty retailer’s stock worth $20,317,000 after buying an additional 130,160 shares in the last quarter. APG Asset Management N.V. lifted its position in L Brands by 19.7% in the 2nd quarter. APG Asset Management N.V. now owns 1,541,878 shares of the specialty retailer’s stock worth $35,338,000 after buying an additional 253,600 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in L Brands by 7.9% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,271,712 shares of the specialty retailer’s stock worth $24,913,000 after buying an additional 93,432 shares in the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.
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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