L Brands Inc (NYSE:LB) has been assigned a consensus recommendation of “Hold” from the thirty-four analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, nineteen have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $39.06.
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of L Brands to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 23rd. Barclays cut their price objective on shares of L Brands from $33.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, August 23rd. Robert W. Baird cut their price objective on shares of L Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, August 23rd. KeyCorp cut their price objective on shares of L Brands from $28.00 to $25.00 and set an “underweight” rating for the company in a report on Friday, August 24th. Finally, Wedbush assumed coverage on shares of L Brands in a report on Friday, August 10th. They issued a “neutral” rating and a $33.00 price objective for the company.
Hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in L Brands during the 2nd quarter worth approximately $104,000. Gradient Investments LLC acquired a new position in L Brands in the 2nd quarter valued at approximately $109,000. Private Capital Group LLC increased its position in L Brands by 6,777.3% in the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock valued at $111,000 after acquiring an additional 2,982 shares during the period. Salem Investment Counselors Inc. acquired a new position in L Brands in the 3rd quarter valued at approximately $130,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in L Brands in the 2nd quarter valued at approximately $216,000. Institutional investors and hedge funds own 73.23% of the company’s stock.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business earned $0.48 EPS. L Brands’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that L Brands will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend is Wednesday, November 21st. L Brands’s dividend payout ratio (DPR) is presently 75.00%.
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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