Credit Suisse Group Reaffirms Hold Rating for L Brands (NYSE:LB)

Credit Suisse Group reiterated their hold rating on shares of L Brands (NYSE:LB) in a report issued on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $22.00 target price on the specialty retailer’s stock.

A number of other analysts have also issued reports on LB. Jefferies Financial Group set a $16.00 price objective on L Brands and gave the company a sell rating in a research note on Thursday, August 22nd. Telsey Advisory Group decreased their price objective on L Brands from $24.00 to $22.00 and set a market perform rating on the stock in a research note on Friday, August 23rd. Loop Capital decreased their price objective on L Brands from $20.00 to $15.00 and set a sell rating on the stock in a research note on Thursday, August 22nd. Citigroup decreased their price objective on L Brands from $27.00 to $21.00 and set a neutral rating on the stock in a research note on Friday, August 23rd. Finally, Bank of America set a $30.00 price objective on L Brands and gave the company a hold rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $26.43.

Shares of NYSE LB opened at $18.87 on Thursday. L Brands has a one year low of $15.82 and a one year high of $38.00. The business’s fifty day moving average price is $20.53 and its 200-day moving average price is $24.22. The stock has a market capitalization of $5.25 billion, a PE ratio of 6.69, a P/E/G ratio of 0.68 and a beta of 0.76.

L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that L Brands will post 2.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a $0.30 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 6.36%. L Brands’s dividend payout ratio is currently 42.55%.

A number of hedge funds and other institutional investors have recently made changes to their positions in LB. Renaissance Technologies LLC boosted its holdings in shares of L Brands by 117.5% in the 2nd 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 in the last quarter. Nuveen Asset Management LLC purchased a new stake in L Brands during the 2nd quarter valued at about $57,287,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in L Brands by 31.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,962,678 shares of the specialty retailer’s stock worth $129,526,000 after buying an additional 1,180,198 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in L Brands in the 1st quarter worth approximately $28,618,000. Finally, BlackRock Inc. lifted its holdings in L Brands by 5.1% in the 2nd quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock worth $520,550,000 after buying an additional 970,548 shares during the period. Institutional investors and hedge funds own 69.76% of the company’s stock.

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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Analyst Recommendations for L Brands (NYSE:LB)

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