L Brands Inc. (NYSE:LB) was upgraded by equities researchers at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a note issued to investors on Monday.
Several other equities analysts also recently commented on the stock. Wedbush restated a “neutral” rating and issued a $65.00 price target on shares of L Brands in a research note on Sunday, September 4th. Citigroup Inc. upgraded shares of L Brands from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $84.00 in a research note on Monday, November 14th. Zacks Investment Research upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Monday, August 22nd. Vetr upgraded shares of L Brands from a “buy” rating to a “strong-buy” rating and set a $73.19 price objective on the stock in a research note on Thursday, November 3rd. Finally, Mizuho increased their price objective on shares of L Brands from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.62.
L Brands (NYSE:LB) opened at 71.81 on Monday. The company’s 50-day moving average is $70.26 and its 200 day moving average is $70.68. The company has a market capitalization of $20.54 billion, a P/E ratio of 18.07 and a beta of 0.88. L Brands has a one year low of $60.00 and a one year high of $99.83.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts predict that L Brands will post $3.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, November 16th. L Brands’s dividend payout ratio is 60.61%.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.45% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Amica Retiree Medical Trust acquired a new stake in L Brands during the third quarter worth approximately $106,000. Financial Architects Inc boosted its stake in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in L Brands during the second quarter worth approximately $123,000. Whittier Trust Co. of Nevada Inc. boosted its stake in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares during the last quarter. 73.59% of the stock is currently owned by hedge funds and other institutional investors.
About L Brands