L Brands (NYSE:LB) Sets New 52-Week Low at $20.59

L Brands Inc (NYSE:LB) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $20.59 and last traded at $20.91, with a volume of 100860 shares trading hands. The stock had previously closed at $22.67.

A number of equities analysts have recently issued reports on LB shares. Zacks Investment Research downgraded shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price objective on the stock. in a research note on Wednesday, July 31st. Wells Fargo & Co set a $35.00 price objective on shares of L Brands and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Citigroup downgraded shares of L Brands from a “buy” rating to a “neutral” rating and increased their price objective for the company from $26.50 to $27.00 in a research note on Monday, July 15th. Loop Capital dropped their price objective on shares of L Brands to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada set a $35.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.17.

The company has a fifty day simple moving average of $25.52. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.86 and a beta of 0.69.



L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.56 billion. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share. On average, research analysts expect that L Brands Inc will post 2.4 earnings per share 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 issued a $0.30 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.79%. L Brands’s dividend payout ratio is currently 42.55%.

Several institutional investors have recently modified their holdings of LB. Renaissance Technologies LLC raised its holdings in shares of L Brands by 117.5% during the second quarter. Renaissance Technologies LLC now owns 4,401,433 shares of the specialty retailer’s stock worth $114,877,000 after purchasing an additional 2,377,700 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in L Brands by 31.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 4,962,678 shares of the specialty retailer’s stock valued at $129,526,000 after buying an additional 1,180,198 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in L Brands in the first quarter valued at $28,618,000. BlackRock Inc. increased its holdings in L Brands by 5.1% in the second quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock valued at $520,550,000 after buying an additional 970,548 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new position in L Brands in the first quarter valued at $20,685,000. 68.41% of the stock is owned by hedge funds and other 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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