Guggenheim restated their hold rating on shares of L Brands (NYSE:LB) in a report published on Tuesday morning, AnalystRatings.com reports.
“We continue to forecast +LSD% comp sales growth in this business through 2020, on top of difficult comparisons vs. the +HSD-DD% comp gains in recent quarters. On a two-year basis, we expect trends to remain quite healthy here. In International, the VS UK business has experienced significant erosion in the past 3 years, similar to the NA market but compounded by the challenges in the UK economy. In China, the company continues to see significant potential long term and has now entered 19 markets and prototyped 7 different formats. International is roughly 5% of total LB sales (our 2019E). Overall, the company is focused on getting on a path to profitability in International (both the UK and China), and we continue to forecast a modest operating income loss this year (similar to 2018).”,” the firm’s analyst commented.
Several other equities analysts have also recently weighed in on LB. Citigroup decreased their price target on shares of L Brands from $27.00 to $21.00 and set a neutral rating for the company in a research note on Friday, August 23rd. B. Riley set a $30.00 price target on shares of L Brands and gave the stock a buy rating in a research note on Friday, August 23rd. Loop Capital decreased their price target on shares of L Brands from $20.00 to $15.00 and set a sell rating for the company in a research note on Thursday, August 22nd. Zacks Investment Research cut shares of L Brands from a buy rating to a hold rating and set a $28.00 price target for the company. in a research note on Wednesday, July 31st. Finally, Wells Fargo & Co set a $35.00 target price on shares of L Brands and gave the company an outperform rating in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $26.43.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. On average, equities research analysts anticipate that L Brands will post 2.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Thursday, August 22nd. L Brands’s dividend payout ratio is currently 42.55%.
Several institutional investors and hedge funds have recently bought and sold shares of LB. Dimensional Fund Advisors LP lifted its holdings in shares of L Brands by 71.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 958,049 shares of the specialty retailer’s stock worth $24,592,000 after buying an additional 399,317 shares in the last quarter. Geode Capital Management LLC raised its stake in L Brands by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock valued at $76,373,000 after purchasing an additional 95,224 shares in the last quarter. Janus Henderson Group PLC raised its stake in L Brands by 180.6% in the first quarter. Janus Henderson Group PLC now owns 210,363 shares of the specialty retailer’s stock valued at $5,802,000 after purchasing an additional 135,407 shares in the last quarter. Moors & Cabot Inc. acquired a new position in L Brands in the first quarter valued at about $206,000. Finally, Nissay Asset Management Corp Japan ADV raised its stake in L Brands by 4.1% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 19,946 shares of the specialty retailer’s stock valued at $550,000 after purchasing an additional 787 shares in the last quarter. 70.07% of the stock is owned by 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.
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