L Brands Inc. (NYSE:LB) has been given a $68.00 price objective by research analysts at MKM Partners in a research report issued to clients and investors on Sunday. The brokerage currently has a “hold” rating on the stock. MKM Partners’ price target indicates a potential downside of 5.31% from the company’s previous close.
LB has been the subject of a number of other reports. Vetr upgraded shares of L Brands from a “buy” rating to a “strong-buy” rating and set a $73.19 price target for the company in a research report on Thursday, November 3rd. FBR & Co set a $75.00 price objective on shares of L Brands and gave the stock a “hold” rating in a report on Wednesday, November 2nd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $70.00 price objective (down from $82.00) on shares of L Brands in a report on Wednesday, November 2nd. Royal Bank Of Canada dropped their price objective on shares of L Brands from $82.00 to $70.00 and set a “sector perform” rating for the company in a report on Wednesday, November 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of L Brands from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, November 1st. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company. L Brands presently has an average rating of “Hold” and an average price target of $74.62.
L Brands (NYSE:LB) traded down 0.37% during midday trading on Friday, reaching $71.81. The company’s stock had a trading volume of 1,497,120 shares. L Brands has a 12 month low of $60.00 and a 12 month high of $99.83. The stock has a 50-day moving average price of $70.26 and a 200 day moving average price of $70.68. The company has a market cap of $20.54 billion, a PE ratio of 18.07 and a beta of 0.88.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, November 16th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The company earned $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $0.55 EPS. L Brands’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts expect that L Brands will post $3.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.34%. L Brands’s dividend payout ratio is presently 60.61%.
In other news, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total value of $1,808,976.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.45% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in LB. Chartist Inc. CA purchased a new stake in shares of L Brands during the fourth quarter worth about $268,000. Renaissance Technologies LLC purchased a new stake in shares of L Brands during the first quarter worth about $35,118,000. Wellington Management Group LLP boosted its stake in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock worth $232,522,000 after buying an additional 1,358,509 shares during the period. Emerald Advisers Inc. PA purchased a new stake in shares of L Brands during the fourth quarter worth about $1,710,000. Finally, Andra AP fonden boosted its stake in shares of L Brands by 29.3% in the fourth quarter. Andra AP fonden now owns 79,800 shares of the company’s stock worth $7,646,000 after buying an additional 18,100 shares during the period. 76.29% of the stock is owned by hedge funds and other institutional investors.
About L Brands